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Carver Inc. uses the weighted-average method in its process costing
system. The following data concern the operations of the company’s first
processing department for a recent month.
Work in process, beginning:
Units in process…………………..……………………………………..700
Percent complete with respect to materials …………………..50%
Percent complete with respect to conversion………………...40%
Units started into production during the month ………………23,000
Work in process, ending:
Units in process…………………..…………………………………….700
Percent complete with respect to materials ………………….50%
Percent complete with respect to conversion………………..40%
Required:
Using the weighted-average method, what are the equivalent units of production for materials and for conversion costs?