Marvellous Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: Work in process beginning units in process 800 stage of completion with respect to materials 50% stage odf completion with respect to conversion 20% cost in the beginning inventory materials cost 2440 conversion cost 4928 units started into production during the month 15,000 units completed and transferred out 15,600 costs added to production during the month materials cost 96,470 conversion cost 476,362 working in process, ending units in process 200 Stage of completion with respect to materials 50% stage of completion with respect to conversion 90% Required:Using the weighted-average method,a. Determine the equivalent units of production for materials and conversation costs b. Determine the cost per equivalent unit for materials and conversion costs c. Determine the cost of units transferred out of the department during the month d. Determine the cost of ending work-in-process inventory in the department
Marvellous Inc. uses the weighted-average method in its
Work in process beginning
units in process 800
stage of completion with respect to materials 50%
stage odf completion with respect to conversion 20%
cost in the beginning inventory
materials cost 2440
conversion cost 4928
units started into production during the month 15,000
units completed and transferred out 15,600
costs added to production during the month
materials cost 96,470
conversion cost 476,362
working in process, ending
units in process 200
Stage of completion with respect to materials 50%
stage of completion with respect to conversion 90%
Required:
Using the weighted-average method,
a. Determine the equivalent units of production for materials and conversation costs
b. Determine the cost per equivalent unit for materials and conversion costs
c. Determine the cost of units transferred out of the department during the month
d. Determine the cost of ending work-in-process inventory in the department
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 8 images
