During November, the production department of a process operations system completed and...
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During November, the production department of a process operations system completed and transferred to finished goods 40,000 units that were in process at the beginning of November and 140,000 that were started and completed in November. November's beginning inventory units were 100% complete with respect to materials and 65% complete with respect to conversion. At the end of November, 31,000 additional units were in process in the production department and were 100% complete with respect to materials and 45% complete with respect to conversion.
Compute the number of equivalent units with respect to conversion for November using the weighted-average method.
Equivalent Units for Conversion Cost:
In process costing, the number of equivalent units of production and the cost per equivalent unit is usually calculated separately for direct materials and conversion cost because these costs are not incured at the same stage of the production process.
Answer and Explanation: 1
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When we use the weighted-average method, we base the calculation of the number of equivalent units on the units completed and transferred out and on...
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The Weighted-Average Method of Equivalent Units of Production
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Chapter 4 / Lesson 8
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Learn about how to use the weighted-average method of equivalent units of production in accounting. Use conversion to find the number of equivalent goods, while remembering the goods transferred out for the cost reconciliation report.
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