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Markov Inc Required:
Using the Weighted-Average Method, Determine the Equivalent Units of System

Question 102

Essay

Markov Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department, Sculpting, for a recent month.
 Work-in-process, beginning:  Units in process 200 Percent complete with respect to materials 50% Percent complete with respect to conversion 40% Units started into production during the month 11,000 Work-in-process, ending: Units in process500 Percent complete with respect to materials80% Percent complete with respect to conversion10%\begin{array}{lr}\text { Work-in-process, beginning: }\\\text { Units in process } & 200 \\\text { Percent complete with respect to materials } & 50 \% \\\text { Percent complete with respect to conversion } & 40 \% \\\text { Units started into production during the month } & 11,000\\\text { Work-in-process, ending:}\\\text { Units in process}&500\\\text { Percent complete with respect to materials}&80 \% \\\text { Percent complete with respect to conversion}& 10 \%\\\end{array}

Required:
Using the weighted-average method, determine the equivalent units of production for materials and conversion costs.

Correct Answer:

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Weighted-average method:
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