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 54,000 29,000 Equivalent units of production Percent Completed Conversion 60% 46% The department started 390,000 units into production during the month and transferred 415,000 completed units to th next department. Materials 90% 73% Required: Compute the equivalent units of production for October. Materials Conversion

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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
54,000
29,000
Equivalent units of production
Percent Completed
Conversion
60%
46%
The department started 390,000 units into production during the month and transferred 415,000 completed units to the
next department.
Materials
90%
73%
Required:
Compute the equivalent units of production for October.
Materials
Conversion
Transcribed Image Text: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 54,000 29,000 Equivalent units of production Percent Completed Conversion 60% 46% The department started 390,000 units into production during the month and transferred 415,000 completed units to the next department. Materials 90% 73% Required: Compute the equivalent units of production for October. Materials Conversion
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