Highlite Corporation uses the weighted-average method in its process costing. The following data pertain to its Formulation Department for November.Units in process, November 1: materials 85% complete, conversion 75% complete700Units started into production during November5,500Units completed and transferred to the next department4,700Units in process, November 30: materials 70% complete, conversion 25% complete1,500Required:Determine the equivalent units of production for materials and conversion costs for the Formulation Department for November using the weighted-average method.
What will be an ideal response?
Weighted-average method:
| Materials | Conversion | ||||||
| Transferred to next department | 4,700 | 4,700 | |||||
| Work-in-process, ending: | |||||||
| Materials: 1,500 units × 70% | 1,050 | ||||||
| Conversion: 1,500 units × 25% | 375 | ||||||
| Equivalent units of production | 5,750 | 5,075 | |||||
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