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Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 45,000 90 % 65 % Work in process, October 31 25,000 71 % 50 % The department started 386,000 units into production during the month and transferred 406,000 completed units to the next department. Required: Compute the equivalent units of production for October.

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Answer:

The equivalent units of production for October are :

Raw Materials = 423,750

Conversion Costs = 418,500

Explanation:

Calculation of Equivalent Units of Production

1. Raw Materials

Ending Work In Process Inventory (25,000 × 71%)          17,750

Completed and Transferred (406,000 × 100%)           406,000

Equivalent Units of Production for Materials                 423,750

2. Conversion Costs

Ending Work In Process Inventory (25,000 × 50%)        12,500

Completed and Transferred (406,000 × 100%)           406,000

Equivalent Units of Production for Materials                 418,500

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