The Lakeside Company uses a weighted-average process costing system.The following data are available:
$$\begin{array} { | l | r | }
\hline \text { Beginning inventory } & - 0 \
\hline \text { Units started in production } & 20,000 \
\hline \text { Units finished during the period } & 16,000 \
\hline \begin{array} { l }
\text { Units in process at the end of the period } \
\text { (complete as to materials, } 1 / 4 \text { complete as to } \
\text { labor and overhead) }
\end{array} & 4,000 \
\hline \text { Cost of materials used } & \$ 35,200 \
\hline \text { Labor and overhead costs } & \$ 37,400 \
\hline
\end{array}$$
Equivalent units of production for labor and overhead are:

Question

The Lakeside Company uses a weighted-average process costing system.The following data are available: 
$$\begin{array} { | l | r | } 
\hline \text { Beginning inventory } & - 0 \
\hline \text { Units started in production } & 20,000 \
\hline \text { Units finished during the period } & 16,000 \
\hline \begin{array} { l } 
\text { Units in process at the end of the period } \
\text { (complete as to materials, } 1 / 4 \text { complete as to } \
\text { labor and overhead) }
\end{array} & 4,000 \
\hline \text { Cost of materials used } & \$ 35,200 \
\hline \text { Labor and overhead costs } & \$ 37,400 \
\hline
\end{array}$$
Equivalent units of production for labor and overhead are:

Quizplus · Accepted Answer

The equivalent units of production for labor and overhead are calculated by adding the units completed and transferred out (12,000) to the equivalent units in ending work in process inventory (5,000). Therefore, the equivalent units of production for labor and overhead are 17,000 (12,000 + 5,000).

The Lakeside Company Uses a Weighted-Average Process Costing System Equivalent Units of Production for Labor and Overhead Are: