Conlon Chemicals manufactures paint thinner. Information on the work in process follows: . • Beginning inventory, 40,700 partially complete gallons. . • Transferred out, 206,500 gallons. • Ending inventory (materials are 21 percent complete; conversion costs are 11 percent complete). Started this month, 238,200 gallons. . Required: a. Compute the equivalent units for materials using the weighted-average method. b. Compute the equivalent units for conversion costs using the weighted-average method. a. Materials b. Conversion costs Equivalent Units (gallons)

Conlon Chemicals manufactures paint thinner. Information on the work in process follows: . • Beginning inventory, 40,700 partially complete gallons. . • Transferred out, 206,500 gallons. • Ending inventory (materials are 21 percent complete; conversion costs are 11 percent complete). Started this month, 238,200 gallons. . Required: a. Compute the equivalent units for materials using the weighted-average method. b. Compute the equivalent units for conversion costs using the weighted-average method. a. Materials b. Conversion costs Equivalent Units (gallons)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3PB: Vexar manufactures nails. Manufacturing is a one-step process where the nails are forged. This is...

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Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.
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