Question

Kenton Industrial Corporation uses the weighted average method in its process costing system. During April, the Baker Assembly Department completed its processing of 25,400 units and transferred them to the next department. The cost of beginning inventory and the costs added during April amounted to $650,256 in total. The ending inventory in April consisted of 2,800 units, which were 70% complete with respect to materials and 50% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Materials Labor Overhead Cost per equivalent $ 12.60 $4.30 $ 7.10 unit Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending inventory for the month. Materials Labor Overhead Equivalent units in ending inventory 2. Compute the cost of ending inventory and of the units transferred to the next department for April. (Omit the "$" sign in your response.) Materials Labor Overhead Total Cost of ending inventory Cost of units completed and transferred out 3. Prepare a cost reconciliation for April. (Note: You will not be able to break the cost to be accounted for into the cost of beginning inventory and costs added during the month.) (Omit the "$" sign in your response.) Cost Reconciliation Total cost to be accounted for Costs accounted for as follows: (Click to select) ((Click to select) Total cost accounted for A

Answer 1

Part 1

Particulars	Physical units	Material		Labor		Overhead
		%	units	%	units	%	units
Units in completed	25,400	100%	25,400	100%	25,400	100%	25,400
units in ending WIP inventory	2,800	70%	1,960	50%	1,400	50%	1,400
Equivalent Units of production			27,360		26,800		26,800

Part 2

Assign costs to units transferred out and units in ending WIP inventory
cost assigned to units transferred out
units completed and transferred out	25,400	25,400	25,400
Cost per Equivalent Unit	$            12.60	$               4.30	$        7.10
cost assigned to units transferred out	$        320,040	$        109,220	$ 180,340	$        609,600
cost assigned to units ending work in progress
equivalent units in ending WIP inventory	1,960	1,400	1,400
Cost per Equivalent Unit	$            12.60	$               4.30	$        7.10
cost assigned to units ending work in progress	$          24,696	$            6,020	$      9,940	$          40,656

Part 3

Cost Reconciliation
Total cost to be accounted for		$        650,256
Cost accounted for
Cost of ending inventory		$          40,656
Cost of units completed and transferred out		$        609,600
Total cost accounted for		$        650,256