Reference no: EM132990903
Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 80% complete with respect to conversion; the ending work-in-process inventory is 20% complete.
The following data pertain to May:
UnitsWork in process, May 1 19,200
Units started during May 60,200
Units completed and transferred out 67,600
Work in process, May 31 11,800
Total Direct Materials Conversion Costs
Costs:
Work in process, May 1 $56,900 $24,900 $32,000
Costs incurred during May 321,100 80,100 241,000
Totals $378,000 $105,000 $273,000
Problem 1: Using the weighted-average method of process costing, the equivalent units of conversion activity total