The following information is provided by Adametz Company: WIP Inventory, January 1 0 units Units started 7 comma 600 Units completed and transferred out 3 comma 300 WIP Inventory, December 31 4 comma 300 Direct materials $15,500 Direct labor $18,400 Manufacturing Overhead $9,000 The units in ending WIP Inventory were 90% complete for materials and 84% complete for conversion costs. At the end of the year, what are the equivalent units for conversion costs?

The equivalent units for conversion costs= 6,912 units

Explanation:

The weighted average method of valuation would be used to determine the the equivalent units for conversion costs

Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.

Equivalent unit = Degree of completion × Units of inventory

Items                                       units                                    Equivalent unit

Completed   unit                     3,300       3,300× 100 =       3.300

Closing work in progress       4,300        4,300×  84%=      3,612

Total equivalent units                                                           6,912

The equivalent units for conversion costs= 6,912 units

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disadvantages of leasing a vehicle: no vehicle equity and mileage limitations

disadvantages of purchasing a vehicle: large down payment and vehicle depreciation

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