Exercise 4-2 Computation of Equivalent Units-Weighted-Average Method [LO4-2]

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

		Percent Completed
	Units	Materials	Conversion
Work in process, October 1	49,000	90%	55%
Work in process, October 31	38,000	68%	51%

The department started 400,000 units into production during the month and transferred 411,000 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.