Problem:
Weighted-average method, equivalent units. Consider the following data for the assembly division of Fenton Watches, Inc.: The assembly division uses the weighted-average method of process costing.
|
Physical Units (Watches)
|
Direct Materials
|
Conversion Costs
|
|
Beginning work in process (May 1)
|
80
|
$ 493,360
|
$ 91,040
|
|
Started in May 2012
|
500
|
|
|
|
Completed during May 2012
|
460
|
|
|
|
Ending work in process (May 31)
|
120
|
|
|
|
Total costs added during May 2012
|
|
$3,220,000
|
$1,392,000
|
Compute equivalent units for direct materials and conversion costs. Show physical units in the first column Required of your schedule.