Question

Helix Corporation uses the weighted average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Units 68,000 48,eee s awarded Percent Complete Materials Conversion 100 % 30 % 100 % 20% $ 55, eee $ 16,100 258,800 278,800 $ 108,400 $ 231,924 Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May cored Book erences Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May Comnlata thienneetinn hu enterinn nur anewere in the tahe holow < Prev 5 of 5 Next > re to search Det e 2

This was answered previously, but can you please give me detailed calculates as to how you arrived at each answer. thanks

Answer 1

1.

	Materials	Conversion
Equivalent units of production	326800	288400

2.

	Materials	Conversion
Cost per equivalent unit	0.5	0.86

3.

	Materials	Conversion	Total
Cost of ending work in process inventory	24000	8256	32256
	[48000*0.5]	[9600*0.86]

4.

	Materials	Conversion
Cost of units completed and transferred out	139400	239768	379168
	[278800*0.5]	[278800*0.86]

Workings:

Units to account for		Materials		Conversion
		%	Units	%	Units
Beginning WIP	68,000
Started in process	258,000
Total units to account for	326,000
Units accounted for:
Started and completed	278,800	100%	278800	100%	278800
Ending WIP	48,000	100%	48000	20%	9600
Equivalent units of production	326,800		326800		288400

Cost per equivalent unit	Direct Materials	Conversion Costs	Totals
Inventory in process,beginning	55,000	16100	71,100
Costs added during the period	108400	231924	340,324
Total costs to account for	163,400	248,024	411,424
Total equivalent units	326800	288400
Cost per equivalent unit [Total costs/ Total equivalent units]	0.50	0.860	1.36