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Equivalent Units CalculationsWeighted Average Method Terrace Corporation makes an industrial cleaner...

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Accounting

Equivalent Units CalculationsWeighted Average Method

Terrace Corporation makes an industrial cleaner in two sequential departments, Compounding and Drying. All materials are added at the beginning of the process in the Compounding Department. Conversion costs are added evenly throughout each process. Terrace uses the weighted average method of process costing. In the Compounding Department, beginning work in process was 2,000 pounds (60% processed), 36,000 pounds were started, 34,000 pounds were transferred out, and ending work in process was 70% processed.

Calculate equivalent units for the Compounding Department for August 2019.

TerraceCorporation Flow of Units and Equivalent Units Calculation, August 2019
Equivalent Units
% Work done Direct Materials % Work Done Conversion Costs
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Ending Inventory Answer

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