Nabais Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department for the month of October appear below: Units Percent Complete with Respect to Conversion Beginning work in process inventory 3,300 80 % Transferred in from the prior department during October 30,700 Completed and transferred to the next department during October 32,200 Ending work in process inventory 1,800 60 % What were the equivalent units for conversion costs in the Lubricating Department for October?

=33,280 units

Explanation:

Explanation:

Equivalent units are used to apportion cost between completed units and work in progress. They represent notional whole units which represent incomplete work.

Equivalent units = Degree of work done × units of inventory

Valuation of inventory suing weighted average method

Under this method, no distinction is made between opening inventory and units newly introduced in the current period when accounting for completed units.

All completed units are assumed to be items for which work were started and completed this period, i.e 100% work is assumed to be done in the current period.

We can work out the he equivalent units of Nabais Corporation as follows

Items                          workings                     Equivalent units

Completed units      32,200  × 100%               32,200

Closing inventory      1,800 ×  60%    =             1,080

Equivalent units                                                 33280

Total equivalent unit for conversion cost =

=32,200 + 1,080

=33,280 units

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