Richards Corporation uses the weightedaverage method of proc

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 97,000 units, 70% complete as to materials and 25% complete as to conversion. Units started and completed: 284,000. Units completed and transferred out: 381,000. Ending Inventory: 38,500 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300.

Calculate the equivalent units of materials.

Multiple Choice

328,500

396,400

245,500

360,600

384,850

Calculate the equivalent units of conversion.

Multiple Choice

400,550

409,800

340,050

316,400

264,000

Solution

Statement of Equivalent production Particulars Direct Materials %completion Equivalent mat Conversion %completion Equivalent Conv Opening WIP              97,000.00 100%                 97,000.00              97,000.00 100%                 97,000.00 Units started and completed            284,000.00 100%               284,000.00            284,000.00 100%               284,000.00 ending WIP              38,500.00 40%                 15,400.00              38,500.00 10%                    3,850.00 Equivalent Units               396,400.00               384,850.00 equivalent units of materials.            396,400.00 equivalent units of conversion            384,850.00