8-20 (LO 8-1, 3) Compute Equivalent Units: Weighted-Average Method

Pierce & Company 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 40 percent complete).

-Started this month, 252,000 units.

-Transferred out, 210,000 units

-Ending inventory, 140,000 units (materials are 100 percent complete; conversion costs are 45 percent complete).

Required

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