Weighted average method, equivalent units. Consider the following data for the assembly division of Fenton Watches, Inc.: The assembly division uses the weighted average method of process costing.
|
Physical Units (Watches) |
Direct Materials |
Conversion Costs |
|
|
Beginning work in process (May 1) |
80 |
$ 493,360 |
$ 91,040 |
|
Started in May 2012 |
500 |
||
|
Completed during May 2012 |
460 |
||
|
Ending work in process (May 31) |
120 |
||
|
Total costs added during May 2012 |
$3,220,000 |
$1,392,000 |
Compute equivalent units for direct materials and conversion costs. Show physical units in the first column Required of your schedule.