Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. Equivalent units of production for the year are:

Beginning inventory of Work in Process (40% complete, $1,100) 200 units
Ending inventory of Work in Process (80% complete) 400 units
Total units started during the year 3,200 units
A.3,200 units.
B.3,320 units.
C.3,240 units.
D.3,520 units.
E.3,800 units.

Equivalent units of production for the year are B.3,320 units

Explanation:

Equivalent Units is a concept used to determine the number of completed units in terms of their degree of completion in the process

Step 1 Calculate the Number of Units Completed and Transferred Out of the Process

Hint : Units IN must equal Units OUT

Units Completed and Transferred Out = Beginning inventory of Work in Process + Units Started during the year - Ending inventory of Work in Process

Units Completed and Transferred Out = 200 + 3200 - 400 = 3,000

Step 2 Calculate to Total Equivalent Units of Production for the year on percentage of Completion

Completed and Transfered Out - 100%      3,000

Ending Work In Process Inventory - 80%      320

Total Equivalent Units                                  3,320

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