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Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 52,000 90% 65% 49% Work in process, October 31 35,000 72% The department started 396,000 units into production during the month and transferred 413,000 completed units to the next department. Required: Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.

Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 52,000 90% 65% 49% Work in process, October 31 35,000 72% The department started 396,000 units into production during the month and transferred 413,000 completed units to the next department. Required: Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 52,000 90% 65% 49% Work in process, October 31 35,000 72% The department started 396,000 units into production during the month and transferred 413,000 completed units to the next department. Required: Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.
Transcribed Image Text:Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 52,000 90% 65% 49% Work in process, October 31 35,000 72% The department started 396,000 units into production during the month and transferred 413,000 completed units to the next department. Required: Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.
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