Acc505 Managerial Accounting: Bingham Corporation uses the weighted-average method
Acc505 Managerial Accounting Bingham Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below. Work in process, beginning: Units in beginning work-in-process inventory 400 Materials costs 6,900 Conversion costs 2,500 Percentage complete for materials 80% Percentage complete for conversion 15% Units started into production during the month 6,000 Units transferred to the next department during the month 5,000 Materials costs added during the month 112,500 Conversion costs added during the month 210,300 Ending work in process: Units in ending work-in-process inventory 1,200 Percentage complete for materials 60% Percentage complete for conversion 30%
Required: Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department.