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guapka [62]
3 years ago
8

Conlon Chemicals manufactures paint thinner. Information on the work in process follows:

Business
1 answer:
kupik [55]3 years ago
3 0

Answer:

a. The equivalent units for materials using the weighted-average method  223432 gallons

b. The equivalent units for conversion costs using the weighted-average method 218714 gallons

Explanation:

The Concept of Equivalent units needs to be first defined.Equivalent Units in process costing is the number of units in terms of completion stage or percentage of a certain input element in the process.

<em>Step 1 Calculate the Units of Closing Work In Process</em>

Hint: Units IN must equal units Out

Units of Closing Work In Process = Units of Opening Work In Process + Units Started during the year - Units of Closing Work In Process

Therefore Units of Closing Work In Process  = 43300+235400-211300

                                                                          = 67400 units

<em>Step 2 Calculate the Equivalent Units of Materials</em>

Closing Work In Process ( 67400×18%)                 =   12132

Completed and Transferred Out ( 211300×100%) = 211300

Total                                                                             223432

<em>Step 3 Calculate the Equivalent Units of conversion costs</em>

Closing Work In Process ( 67400×11%)                  = 7414

Completed and Transferred Out ( 211300×100%) = 211300

Total                                                                            218714

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Explanation:

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Read 2 more answers
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