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1. Beginning WIP inventory is 15,500 units, 75% complete for materials.
During the month, 90,000 units were started; 87,000 were finished; and
ending WIP was 18,500 units that were 50% complete for materials.
How many equivalent units should be used to allocate costs for materials?
(Assume that the weighted average method is used, not FIFO.)
2. During a period, 38,200 units were completed and 4,200 units were in
ending WIP inventory. Ending WIP was 75% complete for direct
materials and 50% complete for conversion costs.
2a. What are the equivalent units for direct materials?
Completed Units
$38,200
$38,200
Ending Units $4200 (75% complete)
$3,150
All Units
$42,400
$41,350
Direct Materials
Equivalent Units
2b. What are the equivalent units for conversion costs?
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ACCT 346 Week 3 Quiz (2 Sets)
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