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Clonex Labs, Inc., uses the weighted average method in its process costing system. The following data are available for one department for October Work in
Clonex Labs, Inc., uses the weighted average method in its process costing system. The following data are available for one department for October Work in process, October 1 Work in process, October 31 Percent Completed Units Materials Conversion 49,000 95 55 26,000 458 74 The department started 385,000 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 Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials Conversion 2,000 820 $ 13.96 $.5.13 A total of 21,900 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total (For all requirements, round your final answers to the nearest whole dollar amount.) Materials Conversion Total 1. Cost of ending work in process inventory 2. Cost of units transferred out
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