Epstein Corporation Uses the Weighted-Average Method in Its Process Costing

question 108

Multiple Choice

Epstein Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were:
A total of 7,000 units were started and 6,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
The ending inventory was 85% complete with respect to materials and 45% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

-What are the equivalent units for conversion costs for the month in the first processing department?

• A)405
• B)6,905
• C)6,500
• D)7,400

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Definitions:

United States

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An instance where a professional fails to perform their duties to the accepted standard of practice in their field, leading to harm or loss.

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A legal arrangement where two or more persons agree to share the profits and losses of a business venture.

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Business arrangements where an individual or company is given the right to sell and distribute a manufacturer's products within a particular territory.