Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June):
|Work in Process—Mixing Department|
|June 1 balance||27,000||Completed and transferred to Finished Goods||?|
|June 30 balance||?|
The June 1 work in process inventory consisted of 4,400 units with $14,100 in materials cost and $12,900 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 36,900 units were started into production. The June 30 work in process inventory consisted of 8,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion.
4. Compute the equivalent units of production for materials.
Compute the equivalent units of production for material under weighted average method
|Units completed and transferred out(note)||
|Total equivalent units of production for material||41300|
Note : units completed and transferred out = beginning inventory + units started during the month - ending inventory
=4400+36900 - 8800 = 32500
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