Problem:
1. Cagna Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.
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Work in process, beginning:
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Units in process
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700
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Stage of completion with respect to materials
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90%
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Stage of completion with respect to conversion
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10%
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Units started into production during the month
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15,000
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Work in process, ending:
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|
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Units in process
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500
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Stage of completion with respect to materials
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50%
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Stage of completion with respect to conversion
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40%
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Required:
Using the weighted-average method, determine the equivalent units of production for materials and conversion costs by compiling the "Quantity Schedule and Equivalent Units" portion of the production report.