Question

Sarved Help HW 4 Save & Exit Check my 1 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: 7 Inventory, May 1 Doints Work in Process-Grinding Department 116,340 Completed and transferred to the Mixing Department 670,470 414,384 ? Materials Conversion Inventory, May 31 eBook Print References The May 1 work in process inventory consisted of 42,000 pounds with $67,620 in materials cost and $48,720 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion. During May, 375,000 pounds were started into production. The May 31 inventory consisted of 138,000 pounds that were 100% complete with respect to materials and 60% complete with respect to conversion. The company uses the weighted-average method in its process costing system. Required: 1. Compute the Grinding Department's equivalent units of production for materials and conversion in May, 2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May 3. Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May Complete this question by entering your answers in the tabs below. I Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's equivalent units of production for materials and conversion in May.

Answer 1

Answer Page: No o Equivalent units of production for materials & Convension in May units completed and transferred out = 42000 + 375,000 - 138000 279000 Equivalent units of production for materials = 249000 + 138000 417000 Equivalent units of pooduction for conversion = 279000 + (138000 X 60%) 361,800 o cost per equivalent unit for materials & conversion for a for May cost unit for materials Begining wip + cost added per equivalent unit for equivalent units of produ Hon = 467,620 + $670,470 $1.77 417000 cord per equivalent unit for conversion = $48,720 +414384 361,800 $1.28 Materials cont of ending work in process = 138000x 1,77 $244,260 3

Page: No@ Conversion-cord of ending work in process = (138000 X607.)a lag $ 105,984 Material Conversion Total Cool of ending work in process $244,260 $ 105,984 $350,244 conf of units transferred out for materials = 279000 x 1.77 $493,830 coof of units transferred out for conversion - 279000 XI.28 = 4357130 Material conversion Total cost of unitas transferred out $493,830 $357,120 $850,950