Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are availa department for October Work in process, October 1 Work in process, October 31 Units 51,000 36,000 Percent Completed Conversion 55% 50% Materials 90% 66% The department started 391,000 units into production during the month and transferred 406,000 completed units to the next department

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4CMA: A company is using process costing with the first-in, first-out (FIFO) method, and all costs are...
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Exercise 5-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 5-2]
Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one
department for October:
Work in process, October 1
Work in process, October 31
Units
51,000
36,000
Equivalent units of production
Percent Completed
Conversion
55%
50%
The department started 391,000 units into production during the month and transferred 406,000 completed units to the next
department
Required:
Compute the equivalent units of production for October.
Materials
Materials
90%
66%
Conversion
Transcribed Image Text:Exercise 5-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 5-2] Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Work in process, October 1 Work in process, October 31 Units 51,000 36,000 Equivalent units of production Percent Completed Conversion 55% 50% The department started 391,000 units into production during the month and transferred 406,000 completed units to the next department Required: Compute the equivalent units of production for October. Materials Materials 90% 66% Conversion
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