Outdoor Man uses the weighted-average method in its process costing system. The

Question

Outdoor Man uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department Assembly for a recent month. (Units are transferred to the WIP Polishing department upon completion)

Work in process, beginning:

Units in proces.................................................................800

Percent complete with respect to materials.........................50%

Percent complete with respect to conversion.......................20%

Costs in the beginning inventory:

Materials cost..................................................................$2,440

Conversion cost...............................................................$4,928

Units started into production during the month........................15,000

Units completed and transferred out......................................15,600

Costs added to production during the month:

Materials cost..................................................................$96,470

Conversion cost...............................................................$476,362

Work in process, ending:

Units in process................................................................200

Percent complete with respect to materials..........................50%

Percent complete with respect to conversion........................90%

*Using the weighted-average method:

Determine the equivalent units of production for materials

**Using the weighted-average method:

Determine the equivalent units of production for conversion

Explanation / Answer

Determination of Equivalent ubnits of production for materials:

Equivalent units of Productions for matrerials = 14700

Determination of Equivalent ubnits of production for Conversion:

Equivalent units of Productions for matrerials = 15020

Particulars Units Proportion of Completion Equivalent Units Closing Work in Progress 200 50% 100 Add: Units Started into production 15000 100% 15000 Less: Opening Work in Progress 800 50% -400 14700

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