Question

noted the following: Units Work-in-process, August 1 (50% complete) 4,000 Units started during the month of August 20,500 Work-in-process, August 31 8,000 Materials are added at the beginning of the process. Tukka Toy uses the weighted average method; equivalent units of production for August were 19,500. Therefore, the percent complete of the work-in-process at August 31 was ________.

Answer 1

Answer:

Percent complete of work in process at August 31 was 60%

Explanation:

In this case opening WIP = 4,000 units which were 50 % complete

During the month we created additional 20,500 units of Work In Process

Additional 8,000 units of raw material were added.

Total units = 4,000 + 20,500 +8,000 = 32,500

Equivalent units completed = 19,500

Percentage of complete work in process at month end = ( 19,500/32,500 )$\times$ 100 = 60%