Answer:
<em>Equivalent unit for conversion cost= 31,280 units</em>
Explanation:
<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.
</em>
<em>Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work</em>
Equivalent unit = Degree of completion × number of units
<em>Equivalent unit for conversion cost</em>
Item units Equivalent unit
transferred 29,000 100%× 29,000 = 29,000
Closing inventory 3,000 76%× 3,000 = <u> 2280
</u>
Total equivalent unit <u>31,280</u>
<em>Equivalent unit for conversion cost= 31,280 units</em>
