Question

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are...

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October:

Percent Completed
Units Materials Conversion
Work in process, October 1 45,000 85 % 65 %
Work in process, October 31 32,000 73 % 52 %

The department started 397,000 units into production during the month and transferred 410,000 completed units to the next department.

Required:

Compute the equivalent units of production for October.

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Answer #1
Materials Conversion
Units transferred out 410,000 410,000
Work in process, October 31 23360 16640
[32,000*73%] [32,000*52%]
Equivalent units for October 433360 426640
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