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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: 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Equivalent units of production 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. Required 4 Materials Units Materials 52,000 32,000 Conversion Percent Complete Required 1 Calculate the first production department's equivalent units of production for materials and conversion for May. 100% 100% Required 2 Conversion 40% 25% $ 45,500 $ 12,100 246,000 266,000 $ 55,820 $ 174,220

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: 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Equivalent units of production 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. Required 4 Materials Units Materials 52,000 32,000 Conversion Percent Complete Required 1 Calculate the first production department's equivalent units of production for materials and conversion for May. 100% 100% Required 2 Conversion 40% 25% $ 45,500 $ 12,100 246,000 266,000 $ 55,820 $ 174,220

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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: 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Equivalent units of production 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. Required 4 Materials Units Materials 52,000 32,000 Conversion Percent Complete Required 1 Calculate the first production department's equivalent units of production for materials and conversion for May. 100% 100% Required 2 Conversion 40% 25% $ 45,500 $ 12,100 246,000 266,000 $ 55,820 $ 174,220
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: 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Equivalent units of production 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. Required 4 Materials Units Materials 52,000 32,000 Conversion Percent Complete Required 1 Calculate the first production department's equivalent units of production for materials and conversion for May. 100% 100% Required 2 Conversion 40% 25% $ 45,500 $ 12,100 246,000 266,000 $ 55,820 $ 174,220
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