FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Trevor Mills produces agricultural feed at its only plant. Materials are added at the beginning of the process. Information on work-in-process in December follows:
- Beginning inventory, 50,000 partially complete units, 10 percent complete with respect to conversion costs.
- Units started in December, 111,000 units.
- Units transferred out in December, 107,000 units.
- Ending inventory, 54,000 units, 62 percent complete with respect to conversion costs.
Required:
Compute the equivalent units for materials and conversion costs for December using the weighted-average method.
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