Don't Cry Over Spilled Milk, Inc., a manufacturer of mops, uses the weighted average method in...

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Dont Cry Over Spilled Milk, Inc., a manufacturer of mops, uses the weighted average method in its processing costing system. production; MOH costs are allocated to production on the basis of machine hours logged during the period. Total estimated MOH

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Answer 1

Answer #1

Pre determined overhead rate = $300000/100000 = $3 per machine hour
Overhead applied = 79765 x $3 = $239295
Units transferred = 800+16000-300 = 16500

Equivalent unit of Production = Units transferred + Ending WIP x Completion
Material = 16500 + 300 x 60% = 16680 units
Conversion = 16500 + 300 x 70% = 16710 units

Cost per equivalent unit = (Cost of Units in beginning WIP +Costs added) / Equivalent units
Material = ($1296+47076)/16680 = $2.90 per unit
Conversion = ($3712-1296+216213+239295)/16710 = $27.40 per unit
(a) Cost to assemble one mop = $2.90 + 27.40 = $30.30

(b) Cost of goods completed and transferred out = 16500 x $30.30 = $499950 or $500019 (for rouning off)

(c) Cost of ending work in process = $3712+47076+216213+239295-499950 = $6346 or $6277

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Answer 2

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