Process costing equivalent units The information below pertains to July production at Porter Company’s paint factory, which produces paints for household interiors:
|
|
GALLONS |
MATERIALS |
CONVERSION |
|
Work in process, July 1 |
3,000 |
30% complete |
20% complete |
|
Started in July |
7,000 |
|
|
|
To account for |
10,000 |
|
|
|
Completed and transferred out |
6,000 |
100% complete |
100% complete |
|
Work in process, July 31 |
4,000 |
25% complete |
10% complete |
|
Accounted for |
10,000 |
|
|
Using the weighted average method, determine the number of equivalent units of production for materials and conversion during July.