summary of the information contained in the question in tabular form would be like....
Material | Conversion cost | total Cost | ||||
Unit | % complte | cost | % complte | cost | ||
Opeing inventory | 400 | 75% | $ 1,800 | 50% | $ 3,300 | $ 5,100 |
Introduced in the period | 15000 | - | $ 97,000 | - | $ 215,000 | $ 312,000 |
Ending inventory | 1000 | 80% | - | 40% | - | - |
a) unit completed and transferred
unit transferred = Opening + introduced - ending | |
Unit | |
Opeing inventory | 400 |
Add: Introduced in the period | 15000 |
Less :Ending inventory | -1000 |
unit completed and transferred = | 14400 |
b ) Equivalent units
Particular | Unit | Material | Conversion cost | ||
% complte | EU | % complte | EU | ||
A | B | C | D= B * C | E | F = B* E |
unit transferred | 14400 | 100% | 14400 | 100% | 14400 |
Ending inventory | 1000 | 80% | 800 | 40% | 400 |
15400 | 15200 | 14800 |
C) cost per unit '
Particular | Material | Conversion cost | Total cost |
A | B | C | D |
Opeing inventory | $ 1,800 | $ 3,300 | $ 5,100 |
Introduced in the period | $ 97,000 | $ 215,000 | $ 312,000 |
Total Cost | $ 98,800 | $ 218,300 | $ 317,100 |
Divided by : EU | 15200 | 14800 | |
Cost per EU | $ 6.50 | $ 14.75 |
d) cost assigned to unit trnasferred
Particular | Material | Conversion cost | Total Cost | ||||
EU | Cost per EU | Cost | EU | Cost per EU | Cost | ||
A | B | C | D = B x C | E | F | G = E x F | H = D + G |
unit transferred | 14400 | $ 6.50 | $ 93,600.00 | 14400 | $ 14.75 | $ 212,400.00 | $ 306,000.00 |
e) cost assigned to ending inventory
Particular | Material | Conversion cost | Total Cost | ||||
EU | Cost per EU | Cost | EU | Cost per EU | Cost | ||
A | B | C | D = B x C | E | F | G = E x F | H = D + G |
Ending inventory | 800 | $ 6.50 | $ 5,200.00 | 400 | $ 14.75 | $ 5,900.00 | $ 11,100.00 |
1. Skipper Company used the weighted average method in its process costing system. The following data...
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rtulus 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
1,000
Materials costs
$
7,400
Conversion costs
$
2,700
Percent complete with respect to materials
55
%
Percent complete with respect to conversion
25
%
Units started into production during the month
6,900
Units transferred to the next department during the month
6,100...
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