The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work process for conversion.Given that materials are added at the beginning of the process.BeginningQuarter WIPTransferred Conversion(%)134,350 133,55025522132,593 132,51524337133,245 133,43220487 134,845 134,03223What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.Quarter 1Quarter 2Quarter 3Quarter 41234-Started OutUnits for material costsUnits for conversion costs

Name: The following data show the units in beginning work in process invent
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Description: The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work process for conversion.Given that materials are added at the beginn

Equivalent units is calculated by using weighted average method by blending together the units and…

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Business

Accounting

What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8PB: The following data show the units in beginning work in process inventory, the number of units...

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Using the following terms, prepare the worksheet to show the calculation to answer the question: Units completed and transferred Cost per material Cost per conversion out Equivalent units conversion Beginning inventory Units started in production Total units to account for Total work in process Ending inventory Units transferred in Total units accounted for Costs to account for Question: Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units; 55,000 units were started in production; and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 35% complete with respect to conversion. PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Units to Account For: Units Conversion Units Units Accounted For: Total Units Material Units