Answer:
200,000 units by Weighted Average Cost Method
164,000 units by FIFO Method
Explanation:
1. Where Weighted Average Cost Method is used.
Assuming that Gantner Company uses the Weighted Average Cost Method, the total number of equivalent units for materials during May can be determined as follows :
Completed and transferred out (180000 x 100) 180,000
Ending Work In Process (50000 x 40%) 20,000
Total equivalent units for materials 200,000
1. FIFO Method is used.
Assuming that Gantner Company uses the FIFO Cost Method, the total number of equivalent units for materials during May can be determined as follows :
To Complete Opening Work in Process (60000 x 40%) 24,000
Completed and transferred out (180000 - 60,000) x 100% 120,000
Ending Work In Process (50000 x 40%) 20,000
Total equivalent units for materials 164,000
