Refer to the data for Clonex Labs in E5-2.

Required
Compute the equivalent units of production for October assuming that the company uses the FIFO method of accounting for units and costs

Data from E5-2

Clonex Labs uses a process costing system. The following data are available for one department for October:

The department started 175,000 units into production during the month and transferred 190,000 completed units to the next department.

Required
Compute the equivalent units of production for October assuming that the company uses the weighted average method of accounting for units and costs.

Transcribed Image Text:

Work in progress, 1 October Work in progress, 31 October Units 30,000 15,000 Percentage completed Materials 65% 80% Conversion 30% 40%