Kronk, Inc. provides the following information concerning the work in process at its plant: Beginning inventory
Question:
Kronk, Inc. provides the following information concerning the work in process at its plant:
∙ Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete).
∙ Started this month, 65,000 units.
∙ Transferred out, 62,000 units.
∙ Ending inventory, 36,000 units (materials are 100 percent complete; conversion costs are 65 percent complete)
Required
a. Compute the equivalent units for materials using the weighted-average method.
b. Compute the equivalent units for conversion costs using the weighted-average method.
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