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Calculate equivalent units using the weighted-average method

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Question - Holly Company has the following information for December 1 to December 31. All direct materials are 100% complete.

Work-in-Process

Beginning balance December 680 units, 20% complete for conversion

$55,760

Completed 2,380 units and transferred to finished goods inventory

$592,620

Direct materials

266,560

 

 

Direct labor

142,800

 

 

Factory overhead

 

 

 

Property taxes

10,200

 

 

Depreciation

41,500

 

 

Utilities

19,400

 

 

Indirect labor

5,050

 

 

Ending balance, December 31, 780units, 40% complete

$66,300

 

 

Required: Calculate equivalent units using the weighted-average and FIFO methods.

Reference no: EM131697867

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