Question

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: Units 61,000 41, eee 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 Percent Complete Materials Conversion 100% 40 X 100 % 25 % $ 50,700 $ 14,200 250, 500 270,500 $ 83,245 $ 204,785 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the first production department's equivalent units of production for materials and conversion for May

Answer 1

Answer

Solution

1	Material	Conversion
Equivalent Units of Production	311500	280750

.

2	Material	Conversion
Cost per equivalent Unit	$0.43	$0.78

.

3	Material	Conversion	Total
Ending Inventory	17630	7995	25625

.

4	Material	Conversion	Total
Units Completed and transferred	116315	210990	327305

Working

Statement of Equivalent Units(Weighted average)
.	.	Material	Material	Conversion cost	Conversion cost
	Units	Complete %	Equivalent units	Complete %	Equivalent units
Transferred out	270500	100%	270500	100%	270500
Ending WIP	41000	100%	41000	25%	10,250
Total	311500	Total	311500	Total	280750

Cost per Equivalent Units (Weighted average)
COST	Material	Conversion cost	TOTAL
Beginning WIP Inventory Cost	50700	14200	64900
Cost incurred during period	83245	204785	288030
Total Cost to be accounted for (A)	133945	218985	352930
Total Equivalent Units (B)	311500	280750
Cost per Equivalent Units (A/B)	0.43	0.78	1.21

Statement of cost (Weighted average)
Cost	Equivalent Cost/unit	Ending WIP	Ending WIP	Transferred	Transferred
		Units	Cost Allocated	Units	Cost Allocated
Material	0.43	41,000	17630	270500	116315
Conversion cost	0.78	10,250	7995	270500	210990
TOTAL	352930	TOTAL	25625	TOTAL	327305