Hanon Company uses the weighted-average method in its process costing system. The Curing Department of...
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Accounting
Hanon Company uses the weighted-average method in its process costing system. The Curing Department of Hanon Company reported the following information for the month of November:
Units
Conversion percentage complete
Work in process, November 1
20,000
80%
Units started
30,000
Completed and transferred out
40,000
Work in process, November 30
18,000
30%
Costs for November:
Materials
Conversion
Work in process, November 1
$34,500
$48,600
Added during the month
$146,000
$194,400
All materials are added at the beginning of the process. Required: Compute the following items for the company's monthly production report using the weighted-average method: a) The equivalent units (EUs) of production for materials. b) The cost per equivalent unit for conversion.
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