Conlon Chemicals manufactures paint thinners. Information on work in process is as follows:

• Initial inventory, 41,200 partially full gallons.

• Transferred, 208,100 gallons.

• Ending inventory (materials are 19 percent complete; conversion costs are 10 percent complete).

• Started this month, 244,500 gallons.

Required:

to. Calculate the equivalent units of the materials using the weighted average method.

Equivalent units (gallons)?

b. Calculate equivalent units for conversion costs using the weighted average method.

Equivalent units (gallons)?

2. Conlon Chemicals manufactures paint thinners. Information on work in process is as follows:

• Initial inventory, 35,000 partially full gallons.

• Transferred, 214,000 gallons.

• Ending inventory (materials are 22 percent complete; conversion costs are 10 percent complete).

• Started this month, 239,000 gallons.

Assume beginning inventory is 50% complete with respect to materials and 30% complete with respect to conversion costs.

Required:

to. Calculate equivalent units for materials using FIFO.

Equivalent units (gallons)?

b. Calculate equivalent units for conversion costs using FIFO.

Equivalent units (gallons)?

Answer rating: 100% (QA)

a To calculate the equivalent units of materials using the weighted average method Equivalent units of materials Units completed and transferred out E... View the full answer