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Exercise 5-11 Comprehensive Exercise; Second Production Department-weighted Average Method (LO5-2, LO5-3, LO5-4, LO5-5) Scrib

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Answer #1

1) Equivalent unit

Material Conversion Cost
Unit transferred out 143400 143400
Ending WIP 8400 8400*75% = 6300
Equivalent unit 151800 149700

2) Cost per equivalent unit

Material Conversion
Beginning WIP 1189 667
Cost added 64085 39752
Total Cost 65274 40419
Equivalent unit 151800 149700
Cost per EUP 0.43 0.27

3) Cost of ending WIP

Material Conversion Total
Cost of ending WIP 8400*.43 = 3612 6300*.27 = 1701 5313

4) Cost of unit transferred out

Material Conversion Total
Cost of unit transferred out 61662 38718 100380

5) Cost reconciliation

Cost to be accounted for
Beginning WIP 1856
Cost Incurred 103837
Total Cost to be accounted for 105693
Cost accounted as
Cost of unit transferred out 100380
Cost of ending WIP 5313
Total Cost accounted as 105693
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