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Nelson Corporation has the following information available for May of the current year:
Beginning Work in Process Inventory(25% complete as to conversion) .......10,000 unitsStarted...................120,000 unitsEnding Work in Process Inventory(30% complete as to conversion) ......30,000 units
Beginning Work in Process Inventory Costs:
Material.................$2,100Conversion ...........$2,100Current Period CostsMaterial................$33,000Conversion............$33,000
All material is added at the start of production and all products completed are transferred out. Refer to Nelson Corporation. Prepare an equivalent units schedule using the method.
(a) FIFO(b) Weighted average
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