Exercise 5-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 5-2] Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Work in process, October 1 Work in process, October 31 Units 55,000 34,000 Percent Completed Conversion 65% 534 Materials 90% 71% The department started 390,000 units into production during the month and transferred 411,000 completed units to the next department

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Exercise 5-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 5-2]
Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one
department for October:
ances
Work in process, October 1
Work in process, October 31
Units
55,000
34,000
Equivalent units of production
Percent Completed
Conversion
65%
53%
The department started 390,000 units into production during the month and transferred 411,000 completed units to the next
department.
Materials
90%
71%
Required:
Compute the equivalent units of production for October.
Materials
Conversion
Transcribed Image Text:Exercise 5-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 5-2] Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: ances Work in process, October 1 Work in process, October 31 Units 55,000 34,000 Equivalent units of production Percent Completed Conversion 65% 53% The department started 390,000 units into production during the month and transferred 411,000 completed units to the next department. Materials 90% 71% Required: Compute the equivalent units of production for October. Materials Conversion
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