Kronk, Incorporated 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 10 percent complete). Started this month, 74,500 units. Transferred out, 71,500 units. Ending inventory, 35,750 units (materials are 100 percent complete; conversion costs are 60 percent complete). Required: Compute the equivalent units for materials using the weighted-average method. Compute the equivalent units for conversion costs using the weighted-average method.
Kronk, Incorporated 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 10 percent complete). Started this month, 74,500 units. Transferred out, 71,500 units. Ending inventory, 35,750 units (materials are 100 percent complete; conversion costs are 60 percent complete). Required: Compute the equivalent units for materials using the weighted-average method. Compute the equivalent units for conversion costs using the weighted-average method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Kronk, Incorporated 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 10 percent complete).
- Started this month, 74,500 units.
- Transferred out, 71,500 units.
- Ending inventory, 35,750 units (materials are 100 percent complete; conversion costs are 60 percent complete).
Required:
- Compute the equivalent units for materials using the weighted-average method.
- Compute the equivalent units for conversion costs using the weighted-average method.
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