| DeVry University |
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| ACCT346 Weekly Assignment |
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| Week 3 |
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| Directions: Your assignment this week is to answer the two questions below. Please note that Question #2 has 2 parts, Part A and Part B. Please show your work for full credit and use the box provided. Please add more rows or columns to the box if needed. |
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| 1.Beginning WIP inventory is 15,500 units, 75% complete for materials. During the month, 90,000 units were started; 87,000 were finished; and ending WIP was 18,500 units that were 50% complete for materials. |
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| How many equivalent units should be used to allocate costs for materials? (Assume that the weighted average method is used, not FIFO.) |
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| 2. During a period, 38,200 units were completed and 4,200 units were in ending WIP inventory. Ending WIP was 75% complete for direct materials and 50% complete for conversion costs. |
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| 2a. What are the equivalent units for direct materials? |
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| 2b. What are the equivalent units for conversion costs? |
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