Ask Question
27 February, 08:29

At the beginning of the month, the Forming Department of Martin Manufacturing had 14,000 units in inventory, 40% complete as to materials, and 20% complete as to conversion. During the month the department started 64,000 units and transferred 68,000 units to the next manufacturing department. At the end of the month, the department had 10,000 units in inventory, 85% complete as to materials, and 60% complete as to conversion. If Martin Manufacturing uses the weighted-average method of process costing, compute the equivalent units for materials and conversion respectively for the Forming Department.

+5
Answers (1)
  1. 27 February, 12:17
    0
    total equivalent units using weighted average method:

    materials = 76,500 units conversion = 74,000 units

    Explanation:

    beginning inventory 14,000 units

    40% complete to materials = 5,600 equivalent units 20% complete to conversion = 2,800 equivalent units

    during the month 64,000 were started

    68,000 units were transferred out

    ending inventory 10,000 units

    85% complete to materials = 8,500 equivalent units 60% complete to conversion = 6,000 equivalent units

    total equivalent units using weighted average method:

    materials = units completed and transferred out + ending inventory = 68,000 + 8,500 = 76,500 units conversion = units completed and transferred out + ending inventory = 68,000 + 6,000 = 74,000 units
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “At the beginning of the month, the Forming Department of Martin Manufacturing had 14,000 units in inventory, 40% complete as to materials, ...” 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