Question

need help finding the weighted average

Reconciliation Cost to account for BWIP 78,000 Current (December) 696,000 Total 774,000 3. What if you were asked to show that the weighted average unit cost formaterial is the blend of the November unt materials cost and the December unit materials cost? The November it materials cost is $5.60 ($66,000 / 10,000), and the December unit materials cost is $12.5 ($10,000/ 40,000). The equivalent units in WIP are 10,000, and the FIFO equivalent units we 40,000. Calculate the weighted average unit materials cost using weights defined as the proportion of total units completed from each source (BWIP output and current output). Round interim calculations to the nearest cant and, if required, round your answer to the nearest cent. X per unit 1. The weighted average method counts prior period work and costs in WIP as if they belong to the current period; so the unit cost is ootained by dividing the sum of the costs in WIP and the current period costs by the weighted average equivalent output. The resulting unit cost is a blend of the prior period unit cost and the actual current period unit cost. 2. The valuation of cost of goods transferred out is simplified as it is the total unit cost multiplied by the units completed Check My Work Previous Next > All work saved Emal instructor Sunt Assignment for Grading MacBook Air

Answer 1

Weighted average cost per unit = (Cost of beginning work in process + Cost of December)/(November units + December units)

= (66000 +510000)/ (10000+40000)

= 11.52 per unit