Question - The Florida Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below.
Percentage Completed
Units
Materials
Conversion
Work in process, June 1
160,000
65%
45%
Work in process, Jun 30
130,000
75%
65%
The department started 650,000 units into production during the month and transferred 680,000 completed units to the next department.
Required: Compute the equivalent units of production for the first department for June, assuming that the company uses the weighted-average method of accounting for units and costs.