Cagna 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 |
|
Stage of completion with respect to materials |
90% |
|
Stage of completion with respect to conversion |
10% |
|
Units started into production during the month |
15,000 |
|
Work in process, ending: |
|
|
Units in process |
500 |
|
Stage of completion with respect to materials |
50% |
|
Stage of completion with respect to conversion |
40% |
Required:
Using the weighted average method, determine the equivalent units of production for materials and conversion costs by compiling the “Quantity Schedule and Equivalent Units” portion of the production report.