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: Percent Complete Conversion Materials Units 54,000 34,000 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 100 % 50 % 100 % 30 % $ 46,600 $ 12,600 243,600 263,600 $ 42,680 $ 181,798 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.
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: Percent Complete Conversion Materials Units 54,000 34,000 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 100 % 50 % 100 % 30 % $ 46,600 $ 12,600 243,600 263,600 $ 42,680 $ 181,798 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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:
Percent Complete
Materials
Units
Conversion
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
54,000
34,000
100 %
50 %
100 %
30 %
24
46,600
24
12,600
243,600
263,600
$ 42,680
$ 181,798
Required:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
2. Compute the first producțion 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
Compute the first production department's cost per equivalent unit for materials and conversion for May. (Round your answers
to 2 decimal places.)
Materials
Conversion
Cost per equivalent unit
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