Chapter 17, Problem 17.24E

Weighted-average method, equivalent units. The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for the month of May 2017:

^a Degree of completion: direct materials. 80%: conversion costs, 35%.

^b Degree of completion: direct materials, 80%; conversion costs, 40%.

Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.