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Take me to the text Patrice Company employs process costing and uses the weighted-average method to cost its inventory. Raw materials are added at
Take me to the text Patrice Company employs process costing and uses the weighted-average method to cost its inventory. Raw materials are added at the beginning of the process. At the beginning of the period, the company had 510 units in its work in process inventory. Of that amount, 51% was complete with respect to conversion costs. In addition, the company started another 1,490 units during the period. Ignore transferred-in costs. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole unit. a) If Patrice finished and transferred out 1,080 units to finished goods, how many units were in ending inventory? Inputs Beginning WIP Add Current Month Total Production Completed Transfer Out Direct Materials Units 510 1490 2000 1080 Outputs Ending WIP Total Outputs 920 2000 b) What are the equivalent units of production for materials and conversion costs, assuming that the ending inventory is 41% complete as to conversion cost? Inputs Outputs Beginning WIP Add Current Month Total Production Completed Transfer Out Ending WIP Total Outputs Direct Materials Units 510 1490 2000 820 820 % Equivalent Completed 100 % 41 % Conversion Equivalent Units 820 x 980 820 X Check
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