Chapter 16 Weighted average: Computing equivalent units

The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,000 were in process at the beginning of the period. The other 56,000 units were started and completed during the period. At period-end, 16,000 units were in process.

Prepare the department’s equivalent units of production with respect to direct materials under each of three separate assumptions using the weighted-average method for process costing.