The information below was obtained from the records of the first processing depa
ID: 2376864 • Letter: T
Question
The information below was obtained from the records of the first processing department of Moore Company for the month of May. The company uses the weighted-average method in its process costing system. Work in process, May 1..... units: 10,000 Labor & Overhead %: 40% Units started..................... units 64,000 Completed & transferred out.... units 60,000 Work in process, May 31...... units 14,000 Labor & Overhead %: 70% All materials are added at the beginning of the process
The equivalent units for materials for the month of May were:
A) 60,000 units
B) 74,000 units
C) 64,000 units
D) 69,800 units
Explanation / Answer
B
Units transfered to the next dept. 60,000
Ending WIP:
Materials (14,000 X 100%) 14,000
60,000+14,000 = 74,000
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