Colt Company uses a weighted-average process cost system to account for the cost of producing a chemical compound. As part of production, Material B is added when the goods are 80% complete. Conversion costs are incurred evenly throughout the production process. Beginning work-in-process inventory for the current month was 20,000 units, 90% complete. During the month, 70,000 units were started in process, and 65,000 units were completed. There were no lost or spoiled units. The ending inventory was 60% complete.
Required:
Compute the equivalent units for material and conversion that will be used to assign for the current month.

Question

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The Answer of  Colt Company uses a weighted-average process cost system to account for the cost of producing a chemical compound. As part of production, Material B is added when the goods are 80% complete. Conversion costs are incurred evenly throughout the production process. Beginning work-in-process inventory for the current month was 20,000 units, 90% complete. During the month, 70,000 units were started in process, and 65,000 units were completed. There were no lost or spoiled units. The ending inventory was 60% complete.
Required:
Compute the equivalent units for material and conversion that will be used to assign for the current month.

Colt Company Uses a Weighted-Average Process Cost System to Account