Pierce & Company provides the following information concerning the work in proce

Question

Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 61 percent complete). Started this month, 60,700 units. Transferred out, 49,700 units. Ending inventory, 21,000 units (materials are 100 percent complete; conversion costs are 13 percent complete) Required: a. Compute the equivalent units for materials using the weighted-average method. ivalent units b. Compute the equivalent units for conversion costs using the weighted-average method quivalent units

Explanation / Answer

materials Conversion costs Equivalent unit of production 70700 52430 Equivalent unit weighted average method Material Labour Units in process Beginning* - - unit completed and transfer out 49700 49700 Unit in process 100% completed- materials 21000 Unit in process 13% completed- convention 2730 Equivalent units of production 70700 52430 * in Weighted average cost no need to consider the beginning working process

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