Lindex Company uses a process costing system. The following data are available f

Question

Lindex Company uses a process costing system. The following data are available for one department for October:

Percent Completed

The department started 392,000 units into production during the month and transferred 414,000 completed units to the next department.

Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.

Lindex Company uses a process costing system. The following data are available for one department for October:

Explanation / Answer

UNITS TO ACCOUNT FOR: Beginning Work in Process units 51,000 Add: Units Started in Process 392,000 Total Units to account for: 443,000 UNITS TO BE ACCOUNTED FOR: Units started and completed 414,000 Ending Work in Process 29,000 Total Units to be accounted for: 443,000 Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units started and completed 100% 414,000 100% 414,000 Ending Work in Process 69% 20,010 45% 13,050 Total Equivalent units 434,010 427,050

Related Questions

Navigate

• Browse (All)
• Browse L
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.