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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 46,000 90 % 55 %
Work in process, October 31 40,000 74 % 51 %

The department started 399,000 units into production during the month and transferred 405,000 completed units to the next department.

Required:

Compute the equivalent units of production for October.

Business   Accounting   
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Answer #1
Beginning work in process 46,000 Completed & transferred 405,000
started during the year 399,000 Ending work in process 40,000
units to be accounted 445,000 units accounted for 445,000
Equivalent units of production
% Materials % CC
Completed & transferred 405,000 100% 405,000 100% 405,000
Ending work in process 40,000 74% 29600 51% 20400
Equivalent units of prodcution 434,600 425,400
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