Question

Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below:

	Materials		Labor		Overhead
Work in process, May 1	$	27,100	$	44,154	$	215,019
Cost added during May	$	164,605	$	29,436	$	143,346
Equivalent units of production		2,300		2,200		2,100

Required:

Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)

Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below:

	Materials			Conversion
Equivalent units in ending work in process inventory		2,010			860
Cost per equivalent unit	$	14.06		$	4.53

A total of 21,800 units were completed and transferred to the next processing department during the period.

Required:

1. Compute the cost of ending work in process inventory for materials, conversion, and in total.

2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.

(Round your final answers to the nearest whole dollar amount.)

Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,170, and the cost added to production was $25,650.

Required:  

Prepare a cost reconciliation report for the Baking Department for June.

Answer 1

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and calculation. For detailed answer refer to the supporting sheet.

Answer 2 Part 1) Cost Per Equivalent Unit 4 Particular Material 5 Beginning work in process cost 27100 6 Cost added during the Month 164605 7 Total cost 191705 8 Equivalent units in production 23001 9 Cost Per equivalent Unit 83.35 Labor Overhead 44154 215019 29436 143346 73590 358365 2200 2100 33.45 170.65 10 11 Thus the Final answer 12 13 Cost Per equivalent Unit Material $ 83.35 $ Labor 33.45 Overhead $ 170.65 Total $ 287.45 14 15 Part 2) 16 Material 28260.6 Overhead 3895. 8 Total 3 2156.4 17 Cost of ending work in process inventory 18 | Material 306508 Overhead 98754 Total 405262 20 Units completed and transferred out

3 -2 Part 3) Cost Reconciliation Report Baking Department For June -5 Particulars C6 Cost in Beginning inventory 7 Cost Added to Production 8 Total cost Added Amount $ 4,880 $ 25,650 $ 30,530 o Cost of units transferred out 1 Cost of units in ending work in process 2 Total cost $ $ $ 29,360 1,170 30,530