Patton Dyes manufactures colorings, primarily for textiles. Information on the work in process follows: Beginning inventory, 115,000 partially complete liters. Ending inventory, 85,000 liters; units are 25 percent complete with respect to materials and 60 percent complete with respect to conversion costs. Started this month, 690,000 liters. Required: Compute the equivalent units for materials using the weighted-average method. Compute the equivalent units for conversion costs using the weighted-average method

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Patton Dyes manufactures colorings, primarily for textiles. Information on the work in process follows:

  • Beginning inventory, 115,000 partially complete liters.
  • Ending inventory, 85,000 liters; units are 25 percent complete with respect to materials and 60 percent complete with respect to conversion costs.
  • Started this month, 690,000 liters.

Required:

  1. Compute the equivalent units for materials using the weighted-average method.
  2. Compute the equivalent units for conversion costs using the weighted-average method
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