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 90 % 60 %
Work in process, October 31 30,000 66 % 55 %

The department started 393,000 units into production during the month and transferred 408,000 completed units to the next department.

Required:

Compute the equivalent units of production for October.

Materials Conversion
Equivalent units of production
Business   Accounting   
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Answer #1
Material Conversion
Equivalent units of production 4,27,800       4,24,500
Workings:
Equivalent Units of production - weighted average method Units % Materials EUP - Materials % Conversion EUP - Conversion
(i) (ii) (i) X (ii) (iii) (i) X (iii)
Units completed and transferred out 4,08,000 100%     4,08,000 100%        4,08,000
Add: Ending work - in - process inventory units      30,000 66%         19,800 55%           16,500
Total EUP 4,38,000     4,27,800        4,24,500

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