Ask Question
15 May, 19:37

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 86,000 units, 70% complete as to materials and 25% complete as to conversion. Units started and completed: 262,000. Units completed and transferred out: 348,000. Ending Inventory: 33,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the equivalent units of conversion.

+1
Answers (1)
  1. 15 May, 21:12
    0
    The equivalent units of conversion is 351,300

    Explanation:

    The computation of the conversion equivalent units is shown below:

    = (Units completed and transferred out * conversion percentage) + (Ending Inventory * conversion percentage)

    = 348,000 * 100% + $33,000 * 10%

    = 348,000 + 3,300

    = 351,300

    All other information which is given in the question are not relevant. So, ignore other information.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers