Question - Compute equivalent units: weighted average method
Clean Corporation manufactures liquid window cleaner. The following information concerns its work in process:
Beginning inventory, 8,000 partially complete gallons.
Transferred out, 42,000 gallons.
Ending inventory (materials are 10 percent complete; conversion costs are 20 percent complete).
Started this month, 48,000 gallons.
Compute the equivalent units for materials using the weighted-average method.
Compute the equivalent units for conversion costs using the weighted-average method.