ABC Inc's January 1 goods in process inventory contained 30,000 units that were one-fourth complete with respect to direct labor. The beginning inventory was completed this year and another 120,000 units were started. Of those started, 80,000 were finished and the remaining 40,000 were left one-fifth complete. Using weighted average, calculate the equivalent units of production for the year.

ABC Inc's January 1 goods in process inventory contained 30,000 units that were one-fourth complete with respect to direct labor. The beginning inventory was completed this year and another 120,000 units were started. Of those started, 80,000 were finished and the remaining 40,000 were left one-fifth complete. Using weighted average, calculate the equivalent units of production for the year.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 5EB: Using the weighted-average method, compute the equivalent units of production if the beginning...

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There were 1,700 units in beginning inventory that were 40% complete with regard to conversion. During the month, 8,550 units were started and 9,000 were transferred to finished goods. The ending work in process was 60% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method?
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