Exercise 4-2 equivalent units of production – weighted average method clonex labs, inc. uses the weighted average method in its process costing system. the following data are available for one department for october: percent units materials conversion work in process, october 1 30,000 65% 30% work in process, october 31 15,000 80% 40% the department started 175,000 units into production during the month and transferred 190,000 completed units to the next department.

Need with an adjusting journal entrycmc records depreciation and amortization expense annually. they do not use an accumulated amortization account. (i.e. amortization expense is recorded with a debit to amort. exp and a credit to the patent.) annual depreciation rates are 7% for buildings/equipment/furniture, no salvage. (round to the nearest whole dollar.) annual amortization rates are 10% of original cost, straight-line method, no salvage. cmc owns two patents: patent #fj101 and patent #cq510. patent #cq510 was acquired on october 1, 2016. patent #fj101 was acquired on april 1, 2018 for $119,000. the last time depreciation & amortization were recorded was december 31, 2017.before adjustment: land: 348791equpment and furniture: 332989building: 876418patents 217000