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Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory,...

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Accounting

Conlon Chemicals manufactures paint thinner. Information on the work in process follows:

  • Beginning inventory, 38,400 partially complete gallons.
  • Transferred out, 209,000 gallons.
  • Ending inventory (materials are 22 percent complete; conversion costs are 10 percent complete).
  • Started this month, 240,000 gallons.

Required:

a. Compute the equivalent units for materials using the weighted-average method.

b. Compute the equivalent units for conversion costs using the weighted-average method.

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