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Question - Sarayego Company has a process cost system. The following information is available for the month of January 2020;
Work-in-process, Jan 1 (40% conversion cost) ?
Started in Process 23,000 units
Transferred out 27,000 units
Work in process, Jan 31 (55% conversion cost) 4,000 units
30% materials are applied at the start, 40% added when 35% completed, and the balance when 60% completed. Conversion costs are applied evenly throughout the process.
Refer to Sarayego Company, what is the equivalent units of production for the conversion cost using weighted average method and what is the equivalent units of production for the material cost using FIFO method?
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