Question
Industrial Supply Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed
Industrial Supply Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.
Work in process, beginning: | |
Units in beginning work in process inventory | 400 |
Materials costs | $6,900 |
Conversion costs | $2,500 |
Percent complete for materials | 80% |
Percent complete for conversion | 15% |
Units started into production during the month | 6,000 |
Units transferred to the next department during the month | 5,200 |
Materials costs added during the month | $112,500 |
Conversion costs added during the month | $210,300 |
Ending work in process: | |
Units in ending work-in-process inventory | 1,200 |
Percentage complete for materials | 75% |
Percentage complete for conversion | 30% |
Calculate the equivalent units for conversion for the month in the first processing department.
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