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 74,000 54,000 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% 30S 100% 20 % $ 58,800 $ 17,500 262,400 282,400 $ 143,040 $ 252, 244 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 Materials Conversion Equivalent units of production < Prey 21 of 25 !! Next > were to search

Answer 1

Answers

• [1]

	Material	Conversion
Equivalent units of production	336,400	293,200

EUP - Weighted Average Method	Units	% Material	EUP Materials	% Conversion	EUP - Conversion
Units TRANSFERRED	282,400	100%	282,400	100%	282,400
Units of ENDING WIP	54,000	100%	54,000	20%	10,800
Equivalent Units of Production			336,400		293,200

• [2]

	Material	Conversion
Cost per Equivalent units	$                         0.60	$                              0.92

COST per EUP			Material		Conversion
Cost of Beginning WIP			$          58,800.00		$                                  17,500.00
Cost incurred during the period			$        143,040.00		$                                252,244.00
Total Costs		Costs	$        201,840.00	Costs	$                                269,744.00
Equivalent units of production		EUP	336,400	EUP	293,200
Cost per EUP			$              0.60000		$                                      0.92000

• [3]

	Material	Conversion	Total
Cost of ending WIP Inventory	$               32,400.00	$                      9,936.00	$                       42,336.00

Cost of ending WIP	EUP	Cost per EUP	Total Cost
- Direct Materials	54,000	$                      0.60	$          32,400.00
- Conversion	10,800	$                      0.92	$             9,936.00
Total cost of ending WIP				$              42,336.00

• [4]

	Material	Conversion	Total
Cost of units completed & transferred out	$            169,440.00	$                 259,808.00	$                     429,248.00

Cost of Units Transferred Out	EUP	Cost per EUP	Total Cost
- Direct Materials	282,400	$                      0.60	$        169,440.00
- Conversion	282,400	$                      0.92	$        259,808.00
Total Cost transferred Out				$            429,248.00