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Kronk, Incorporated provides the following information concerning the work in process at its plant: ...

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Accounting

Kronk, Incorporated provides the following information concerning the work in process at its plant:

  • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete).
  • Started this month, 70,500 units.
  • Transferred out, 67,500 units.
  • Ending inventory, 33,750 units (materials are 100 percent complete; conversion costs are 60 percent complete).

Required:

  1. Compute the equivalent units for materials using the weighted-average method.
  2. Compute the equivalent units for conversion costs using the weighted-average method.

Equivalent Units
a. Materials
b. Conversion costs

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