Pierce & Company provides the following information concerning the work in process at its plant:

Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 61 percent complete).
Started this month, 59,700 units.
Transferred out, 50,500 units.
Ending inventory, 19,600 units (materials are 100 percent complete; conversion costs are 14 percent complete).

Required
a. Compute the equivalent units for materials using the weighted-average method.
b. Compute the equivalent units for conversion costs using the weighted-average method.

70,100 units and 53,244 units

Explanation:

The computation of the equivalent units for material and conversion cost using the weighted-average method is shown below:

For material

= Transferred out units × completion percentage + ending inventory units × completion percentage

= 50,500 units × 100% + 19,600 units × 100%

= 50,500 units + 19,600 units

= 70,100 units

For conversion

= Transferred out units × completion percentage + ending inventory units × completion percentage

= 50,500 units × 100% + 19,600 units × 14%

= 50,500 units + 2,744 units

= 53,244 units

We simply applied the above formulas

answer; (consensus);

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