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Exercise 5-2 Equivalent Units of Production-Weighted-Average Method [LO5-2] Clonex Labs, Inc., uses the...

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Accounting

Exercise 5-2 Equivalent Units of Production-Weighted-Average Method [LO5-2]

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October:

Percent Completed
Units Materials Conversion
Work in process, October 1 49,000 95 % 60 %
Work in process, October 31 29,000 70 % 51 %

The department started 387,000 units into production during the month and transferred 407,000 completed units to the next department.

Required:

Compute the equivalent units of production for October.

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