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 Units Conversion Work in process inventory, May 1 80,000 Work in process inventory, May 31 60,000 Materials 100% 100% 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 $ 62,400 $ 19,000 266,000 286,000 $152,120 $ 273,040 30% 20% Required 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.

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 1CMA: During December, Krause Chemical Company had the following selected data concerning the manufacture...
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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
Work in process inventory, May 1
Work in process inventory, May 31
Units
Conversion
80,000
60,000
100%
100%
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
$ 62,400
$ 19,000
266,000
286,000
$ 152,120
$ 273,040
30%
20%
Required
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.
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 Work in process inventory, May 1 Work in process inventory, May 31 Units Conversion 80,000 60,000 100% 100% 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 $ 62,400 $ 19,000 266,000 286,000 $ 152,120 $ 273,040 30% 20% Required 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.
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