1.
Units completed:
= 113,000 + 372,000 - 51,000
= 434,000
Equivalent units = Units completed + (Ending inventory X percentage completed)
Material:
= 434,000 + (51,000 X 100%)
= 485,000
Conversion:
= 434,000 + (51,000 X 70%)
= 469,700
2.
Cost per equivalent unit:
Material:
= ($151,420 + $576,080) / 485,000
= $1.50
Conversion:
= ($76,840 + $298,920) / 469,700
= $0.80
3.
Cost of ending work in process inventory:
Material:
= 51,000 X $1.5
= $76,500
Conversion:
= 51,000 X 70% X $0.80
= $28,560
Total
= $76,500 + $28,560
= $105,060
4.
Cost of units completed and transferred out:
Material:
= 434,000 X $1.50
= $651,000
Conversion:
= 434,000 X $0.80
= $347,200
Total:
= $651,000 + $347,200
= $998,200
Weston Products manufactures an industrial cleaning compound that goes through three processing departments--- Grinding. Mixing. and...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments -- Grinding. Mixing. and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Inventory, May 1 Materials Conversion Inventory, May 31 Work in Process-Grinding Department 273,600 Completed and transferred to the Mixing Department 522,800 343, 104 The May 1 work in process inventory consisted of 95,000 pounds...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below. Work in Process Grinding Department Inventosy, May 1 491,780 Completed and transferred to the Mixing Department Materials 859,040 Conversion 535.175 Inventory, May 31 The May 1 work in process Inventory consisted of 134,000 pounds with $300,160...
Saved Help Weston Products manufactures an Industrial cleaning compound that goes through three processing departments-Grinding, Mixing. and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process Grinding Department Inventory, May 1 373,520 Completed and transferred to the Mixing Department Materials 685,160 Conversion 379,350 Inventory, May 31 The May 1 work in process inventory consisted of 116,000 pounds...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments–Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process-Grinding Department Inventory, May 1 112,950 Completed and transferred to the Mixing Department Materials 559,880 Conversion 350, 170 Inventory, May 31 ? The May 1 work in process inventory consisted of 45,000 pounds with...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments, Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process-Grinding Department Inventory, May 1 491,780 Completed and transferred to the Mixing Department Materials 859, 040 Conversion 535, 175 Inventory, May 31 The May 1 work in process inventory consisted of 134,000 pounds...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments - Grinding Moxing and Cooking All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below. 23 Inventory. May 1 Work in process-Grinding Department Completed and transferred to the Mixing Department 615.690 436,480 Materials Conversion Inventory, May 31 The May I work in process inventory consisted of 40,000 pounds with...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process-Grinding Department Inventory, May 1 121,830 | Completed and transferred to the Mixing Department Materials 505,550 Conversion 76,800 Inventory, May 31 The May 1 work in process inventory consisted of 93,000 pounds with $114,390...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding. Mixing. and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Inventory, May 1 Materials Conversion Inventory, May 31 Work in Process-Grinding Department 7 7,760 Completed and transferred to the Mixing Department 423,340 215,668 P The May 1 work in process inventory consisted of 54.000 pounds with...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Inventory, May 1 Work in Process-Grinding Department 188,670 Completed and transferred to the Mixing Department 625,400 353, 320 ? Materials Conversion Inventory, May 31 The May 1 work in process inventory consisted of 57,000 pounds with...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing, and cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below. Work in Process-Grinding Department 174,240 Completed and transferred to the Mixing Department 407,520 124,160 Inventory, May 1 Materials Conversion Inventory, May 31 ? The May 1 work in process inventory consisted of 132,000 pounds with $137,280...