Collins Company uses the weighted-average method in its process costing system. The Packaging Department started the month with 300 units in process, started 1,470 units, and had 110 units in process at the end of the period. All materials are added at the beginning of the process, and conversion costs are incurred uniformly. The units in process at the end of the month are 30% complete with respect to conversion costs. During the month 1,660 units were completed and transferred out. The department incurred the following costs: Beginning WIP Added this month Total Directed Materials $1,000 Conversion Cost $300 Total $1,300 $2,500 $5,930 $8,430 $3,500 $6,230 $9,730 For conversion costs, the equivalent units of production are: A. 1,693 units B. 1,660 units C. 1,470 units D. 1,770 units

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 5PB: Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units...
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Collins Company uses the weighted-average method in its process costing system.
The Packaging Department started the month with 300 units in process, started 1,470
units, and had 110 units in process at the end of the period. All materials are added at
the beginning of the process, and conversion costs are incurred uniformly. The units
in process at the end of the month are 30% complete with respect to conversion costs.
During the month 1,660 units were completed and transferred out. The department
incurred the following costs:
Beginning WIP Added this month Total
Directed Materials $1,000
Conversion Cost
$300
Total
$1,300
$2,500
$5,930
$8,430
$3,500
$6,230
$9,730
For conversion costs, the equivalent units of production are:
A. 1,693 units
B. 1,660 units
C. 1,470 units
D. 1,770 units
Transcribed Image Text:Collins Company uses the weighted-average method in its process costing system. The Packaging Department started the month with 300 units in process, started 1,470 units, and had 110 units in process at the end of the period. All materials are added at the beginning of the process, and conversion costs are incurred uniformly. The units in process at the end of the month are 30% complete with respect to conversion costs. During the month 1,660 units were completed and transferred out. The department incurred the following costs: Beginning WIP Added this month Total Directed Materials $1,000 Conversion Cost $300 Total $1,300 $2,500 $5,930 $8,430 $3,500 $6,230 $9,730 For conversion costs, the equivalent units of production are: A. 1,693 units B. 1,660 units C. 1,470 units D. 1,770 units
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