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(TCO B) The Florida Company manufactures a product that goes through three processing departments. Information relating...

(TCO B) The Florida Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below.

Percentage Completed

Units

Materials

Conversion

Work in process, June 1

160,000

75%

65%

Work in process, Jun 30

130,000

65%

45%


The department started 650,000 units into production during the month and transferred 680,000 completed units to the next department.


Required: Compute the equivalent units of production for the first department for June, assuming that the company uses the weighted-average method of accounting for units and costs.

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Answer #1
Materials Conversion
Equivalent units of production 7,64,500        7,38,500
Working:
Equivalent unit of production for:
Materials = (Units completed x Percentage of completion)+(Ending units x Percentage of completion)
= (680000*100%)+(130000*65%)
=    7,64,500
Conversion = (Units completed x Percentage of completion)+(Ending units x Percentage of completion)
= (680000*100%)+(130000*45%)
=    7,38,500
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