ces Helix Corporation uses the weighted-average method of process costing. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material 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: 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 Required: For May: Units 80,000 Percent Complete Materials 100% 100% Conversion 308 208 60,000 $ 62,400 $ 19,000 266,000 286,000 $ 152,120 $ 273,040 1. Calculate the first production department's equivalent units of production for materials and conversion. 2. Compute the first production department's cost per equivalent unit for materials and conversion. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4
ces Helix Corporation uses the weighted-average method of process costing. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material 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: 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 Required: For May: Units 80,000 Percent Complete Materials 100% 100% Conversion 308 208 60,000 $ 62,400 $ 19,000 266,000 286,000 $ 152,120 $ 273,040 1. Calculate the first production department's equivalent units of production for materials and conversion. 2. Compute the first production department's cost per equivalent unit for materials and conversion. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:ces
Helix Corporation uses the weighted-average method of process costing. It produces prefabricated flooring in a series of steps carried
out in production departments. All of the material 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:
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
Required:
For May:
Units
80,000
Percent Complete
Materials
100%
100%
Conversion
308
208
60,000
$ 62,400
$ 19,000
266,000
286,000
$ 152,120
$ 273,040
1. Calculate the first production department's equivalent units of production for materials and conversion.
2. Compute the first production department's cost per equivalent unit for materials and conversion.
3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total.
4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion,
and in total.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Required 3
Required 4
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