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Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete;

  1. Pierce & Company 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 62 percent complete).
  • Started this month, 60,300 units.
  • Transferred out, 50,400 units.
  • Ending inventory, 20,000 units (materials are 100 percent complete; conversion costs are 15 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.

Pierce & Company 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 62 percent complete).
  • Started this month, 59,900 units.
  • Transferred out, 49,400 units.
  • Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 16 percent complete).

Required:

a.Compute the equivalent units for materials using FIFO.

b.Compute the equivalent units for conversion costs using FIFO.

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