Homework Answers
a. Equivalent units of production
| Physical units | % Materials | EUP Materials |
% conversion |
EUP Conversion | |
| WIP beginning | 300 | 40% | 120 | 70% | 210 |
| Units transferred out | 20,400 | 100% | 20,400 | 100% | 20,400 |
| WIP Ending | 600 | 80% | 480 | 30% | 180 |
| Equivalent units of production | 21,300 | 21,000 | 20,790 |
b.
Cost per equivalent unit
| Materials | Conversion | |
| Cost incurred this period | $44,136 | $546,750 |
| Total cost | $44,136 | $545,750 |
| ÷ Equivalent units | 21,000 | 20,790 |
| Cost per equivalent unit | $2.10 | $26.29 |
c. Cost of ending WIP
Materials =480×$2.1=$1,008
Conversion =180×$26.3=$4,734
Total cost of ending WIP =$5,742
d. Cost of units transferred to next department
Cost of beginning wip
Materials =120×$2.1 =$252
Conversion=210×$26.3=$5,523
Total cost of beginning wip =$5,775
Cost of units transferred out
Materials = 20,400×$2.1=$42,840
Conversion = 20,400×$26.3=$536,520
Total cost of units transferred out =$579,360
Total cost of units transferred to next department =$584,929
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Inacio Corporation uses the
weighted-average method in its process costing system. Data
concerning the first processing department for the most recent
month are listed below: Beginning work in process inventory: Units
in beginning work in process inventory 2,500 Materials costs $
14,600 Conversion costs $ 6,700 Percent complete with respect to
materials 75 % Percent complete with respect to conversion 20 %
Units started into production during the month 11,200 Units
transferred to the next department during the month 10,100...
what are the equivalent units for conversion costs for the
month in the first processing department?
Heller Corporation uses the weighted average method in its process costing first processing department for the most recent month are listed below: in its process costing system. Data concerning the Beginning work in process inventory: Units in beginning work in process inventory ..... Materials costs..................... Conversion costs.............. Percent complete with respect to materials. Percent complete with respect to conversion. Units started into production during...
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what are the equivalent units for materials for the month in
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what are the equivalent units for materials for the month in
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