question archive A company's beginning work in process inventory consisted of 37,000 units that were 1/5 complete with respect to direct labor
A company's beginning work in process inventory consisted of 37,000 units that were 1/5 complete with respect to direct labor
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A company's beginning work in process inventory consisted of 37,000 units that were 1/5 complete with respect to direct labor. These beginning units were completed and another 192,000 units were started during the current period. Of those started, 111,000 were finished and the remaining 81,000 were one-third complete at the end of the period. Using the weighted-average method, what were the equivalent units of production?
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The equivalent units of production is calculated as follows:
Finished and transferred out = $192,000 * 100%
Ending Work in process = 81,000 *1/3
= $27,000
The equivalent units of production = $192,000 + $27,000
= $219,000
