Question

3 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: 6 points Units 74,000 54,000 30% eBook Percent Complete Materials Conversion 100% 100% 20% $ 58,800 $ 17,500 262,400 282,400 $ 143,040 $ 252, 244 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 Print References 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.

Answer 1

				Materials	Conversion
Equivalent units of production				336,400	293,200
				Materials	Conversion
Cost per Equivalent units				0.60	0.92
				Materials	Conversion	Total
cost of ending work in process inventory				32400	9936	42336
				Materials	Conversion	Total
cost of units completed & transferred out				169440	259808	429248
Beginning work in process			74,000	Completed and transferred			282,400
Started during the year			262,400	ending work in process			54,000
units to account for			336,400	units accounted for			336,400
Equivalent units				%	materials	%	CC
Completed and transferred			282,400	100%	282,400	100%	282,400
ending work in process			54,000	100%	54,000	20%	10800
Equivalent units					336,400		293,200
cost per Equivalent units
				Materials	CC	total
Beginning work in process				58,800	17,500	76,300
cost added during the year				143,040	252,244	395,284
total cost				201,840	269,744	471,584
Equivalent units				336,400	293,200
cost per Equivalent units				0.60	0.92	1.52
cost of ending WIP
mateirals		54,000	*	0.6	=	32400
conversion		10800	*	0.92	=	9936
total cost of ending WIP						42336
cost of units transferred out
materials		282,400	*	0.6	=	169440
cc		282,400	*	0.92	=	259808
total						429248