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Equivalent Units Calculations—Weighted Average Method Ferris Corporation makes a powdered rug shampoo in two sequential departments, Compounding and...

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Accounting

Equivalent Units Calculations—Weighted AverageMethod

Ferris Corporation makes a powdered rug shampoo in twosequential departments, Compounding and Drying. Materials are addedat the beginning of the process in the Compounding Department.Conversion costs are added evenly throughout each process. Ferrisuses the weighted average method of process costing. In theCompounding Department, beginning work in process was 12,000 pounds(70% processed), 111,000 pounds were started in process, 108,000pounds transferred out, and ending work in process was 70%processed.

Calculate equivalent units for March 2016 for the CompoundingDepartment.

Ferris Corporation
Flow of Units and Equivalent Units Calculation, March 2016
Equivalent Units
% Work
done		Direct
Materials		% Work
Done		Conversion
Costs
Complete/TransferredAnswerAnswer%AnswerAnswer%Answer
Ending InventoryAnswerAnswer%AnswerAnswer%Answer
TotalAnswerAnswerAnswer

Answer & Explanation Solved by verified expert
3.6 Ratings (629 Votes)

--Note: Ending Inventory = 12000 + 111000 - 108000 transferred = 15,000 units

Ferris Corporation
Flow of Units and Equivalent Units Calculation, March 2016
Equivalent Units
% Work Direct % Work Conversion
done Materials Done Costs
Complete/Transferred                108,000 100%            108,000 100%            108,000
Ending Inventory                  15,000 100%              15,000 70%              10,500
Total                123,000            123,000            118,500

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