Midterm Exam I Quest 39. Choe Corporesion uses the weighted-average method in it
ID: 2610468 • Letter: M
Question
Midterm Exam I Quest 39. Choe Corporesion uses the weighted-average method in its process costing system Tris month, the department consisted or 660 units The cosis and percentoge beginning inventory in the first processing complesion of these units in beginning inventory were Cost 7,500 $6,500 A total of 9700 units were started and 8300 uns were vonsferred to the second processing department during the month. The tolowng costs were incuried nthe trst proceing despartment during the monh $137 500 $323.500 The ending inventory was 70% complete with respect to motenois ond 65% complete with respect to conversion costs Note: Your answers may ditfer from those offered below due to rounding error in all coses, select the answer that is the closest to the anower you computed To reduce younding eror, carry out all computations to a least three decimal places What are the equivalent units for conversion costs for the month in the frst processing department? O 1339 Unts O 10,360 Units 8300 Units O 9639 UnitsExplanation / Answer
Answer:
9639 units
Working notes for the answer:
Statement of equivalanent production
Weighted average method
In
Out
equivalent units
Particular
Units
Particular
Units
Matrial
Conversion
Opening WIP
660
Competed
8300
8300
100%
8300
100%
Units Introduced
9700
Closing WIP
(10360-8300)
2060
1442
70%
1339
65%
10360
10360
9742
9639
Statement of equivalanent production
Weighted average method
In
Out
equivalent units
Particular
Units
Particular
Units
Matrial
Conversion
Opening WIP
660
Competed
8300
8300
100%
8300
100%
Units Introduced
9700
Closing WIP
(10360-8300)
2060
1442
70%
1339
65%
10360
10360
9742
9639