A company uses a process costing system and the weighted average method for inventory costs. The following information is available regarding conversion activities for the current year:Work in Process, January 15,500 units, 80% completeWork in Process, December 317,800 units, 50% completeUnits completed and transferred to finished goods46,900 unitsCalculate the equivalent units of production for conversion costs for the year.
What will be an ideal response?
| ? | ? | Physical Units | % of Work Completed | Equivalent Units Produced |
| (a) | Completed and transferred out | 46,900 | 100% | 46,900 |
| ? | Ending inventory of Work in Process | 7,800 | 50% | 3,900 |
| ? | Total | 54,700 | ? | 50,800 |
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