Question

4. Murray calculates the cost for an equivalent unit of production using process costing.

		Production Quantity	Production Cost
Beginning WIP Inventory, June 1
DM	100% complete		$10,000
DL	30% complete		1,060
OH	40% complete		1,620
Beginning WIP inventory, June 1		10,000 units	$12,680
Units started during June		40,000 units
Ending WIP Inventory, June 30
DM	100% complete
DL	50% complete
OH	20% complete
Ending WIP Inventory, June 30		8,000 units
Costs added during June
DM			$44,000
DL			$22,440
OH			$43,600
Total costs added during June			$110,040

Required:

Use the weighted average process costing method and follow the 5 step procedures to compute the total

manufacturing costs assigned to units completed and transferred out and to units in the ending work in

process inventory (make sure you show each step in your calculations).

Answer 1

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