Question

Builder Products, Inc., manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, for May follows:
The company uses the weighted-average method.
(a) Compute the equivalent units of production.

Answer 1

Process costing: It is a costing system which is used for manufacturing companies which involves more than one process in production of goods. It uses cost per equivalent units and equivalent units in production in order to transfer costs to its finished goods inventory and ending WIP.

What is weighted average method?

• The weighted average takes into consideration the relative significance or recurrence of a few variables in a information set.
• A weighted average is in some cases more precise than a straightforward average. In a weighted average, each information point esteem is increased by the doled out weight which is at that point summed and separated by the number of information points.
• For this reason, a weighted average can progress the data's accuracy. Stock financial specialists utilize a weighted average to track the fetched premise of offers bought at changing times.

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