The may 1 work in process inventory consisted of 54000, Ask an Expert

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The May 1 work in process inventory consisted of 54,000 pounds with $50,760 in materials cost and $27,000 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 80% complete with respect to conversion. During May, 377,000 pounds were started into production. The May 31 inventory consisted of 132,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion. The company uses the weighted-average method to account for units and costs.

Required: Determine the equivalent units of production for May.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956734

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