HomeworkLib
Question

A company uses the weighted average method for inventory costing. At the beginning of a period...

A company uses the weighted average method for inventory costing. At the beginning of a period the production department had 20,000 units in beginning work in process inventory which were 40% complete, the department completed and transferred 165,000 units. At the end of the period,22,000 units were in the ending work in process inventory and are 75% complete. Compute the number of equivalent units produced by the department.

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Number of equivalent units produced by the department = 181500

Explanation;

Equivalent units = Units completed and transferred + (Ending WIP * % complete)

Equivalent units = 165000 + (22000 * 0.75)

Equivalent units = 165000 + 16500

= 181500

0 0
Add a comment
Know the answer?
Add Answer to:
A company uses the weighted average method for inventory costing. At the beginning of a period...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • A company uses the FIFO method for inventory costing. At the beginning of a period, the...

    A company uses the FIFO method for inventory costing. At the beginning of a period, the production department had 40,000 units in beginning Work in Process inventory which were 50% complete; the department completed and transferred 175,000 units. At the end of the period, 32,000 units were in the ending Work in Process inventory and are 85% complete. Compute the number of equivalent units produced by the department.

  • A company uses the FIFO method for inventory costing. At the beginning of a period, the...

    A company uses the FIFO method for inventory costing. At the beginning of a period, the production department had 28,000 units in beginning Work in Process inventory which were 44% complete; the department completed and transferred 169,000 units. At the end of the period, 26,000 units were in the ending Work in Process inventory and are 79% complete. Compute the number of equivalent units produced by the department. Multiple Choice 177,220. 189,540. 169,000. 141,000. 195,000.

  • Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...

    Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,300 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,400 50% Conversion costs $ 3,600 20% A total of 8,700 units were started and 8,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...

  • 1. The Richmond Corporation uses the weighted-average method in its process costing system. The company has...

    1. The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 21,200 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.55 for materials and $5.05 for labor and overhead, the total...

  • Question #5 Morgan Company uses the weighted average method in its process costing system. For a...

    Question #5 Morgan Company uses the weighted average method in its process costing system. For a particular department, the company had 108,000 equivalent units of production with respect to conversion costs in March. There were 15.000 units in the department's beginning ry, two thirds complete with respect to conversion costs. During March, 105.000 units were started and 100,000 were completed and transferred out of the department. The ending work in process inventory in the department: A. consisted of 5,000 units...

  • Pepper Company uses the weighted average method in its process costing system. The following information was...

    Pepper Company uses the weighted average method in its process costing system. The following information was available for one of its processing departments: • The beginning works in process inventory consisted of 6,000 units, which were 75% complete with respect to conversion costs. • The department started 59,000 units in production during the current month. • A total of 50,000 units were completed and transferred out of that department during the current month. • The ending work in process inventory...

  • Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process...

    Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,200 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,000. During the period, 9,200 units were completed and transferred on to the next department. The costs per equivalent unit for the period were...

  • Mundes Corporation uses the weighted average method in its process costing system. The beginning work in...

    Mundes Corporation uses the weighted average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,700 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,500. During the period, 9,700 units were completed and transferred on to the next department. The costs per equivalent unit for the period...

  • Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the...

    Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department’s operations in January. Units Percent Complete with Respect to Conversion Beginning work in process inventory 5,200 70 % Transferred in from the prior department during January 59,100 Completed and transferred to the next department during January 56,900 Ending work in process inventory 7,400 40 % The accounting records indicate that the conversion...

  • Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process...

    Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,400 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $9,200. During the period, 8,400 units were completed and transferred on to the next department. The costs per equivalent unit for the period were...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT