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<strong>ACCT</strong> <strong>346</strong> <strong>Assignment</strong> <strong>Week</strong> 3<br />
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<strong>ACCT</strong> <strong>346</strong> <strong>Assignment</strong> <strong>Week</strong> 3<br />
Directions: Please answer all questions below and be sure to show all of your calculation work in<br />
the boxes<br />
provided in order to earn full credit. Note that Question #2 has 2 parts, Part A and Part B. If you<br />
need more<br />
room for your answers, just add more rows or columns to the boxes, if needed.<br />
1. Beginning WIP inventory is 15,500 units, 75% complete for materials. During the month,<br />
90,000 units were<br />
started; 87,000 were finished and ending WIP was 18,500 units that were 50% complete for<br />
materials.<br />
How many equivalent units should be used to allocate costs for materials? Or in other words,<br />
what are the total<br />
equivalent units of production with respect to materials? (Assume that the weighted average<br />
method is used, not<br />
FIFO.)<br />
2. During a period, 38,200 units were completed and 4,200 units were in ending WIP inventory.<br />
Ending WIP was<br />
75% complete for direct materials and 50% complete for conversion costs.<br />
2a. What are the total equivalent units for direct materials?<br />
2b. What are the total equivalent units for conversion costs?
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