Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 2,000 units in beginning work in process inventory had direct materials costs of $2,400 and conversion costs of $1,600. Also shown is unit data for the Bending department this period. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning balance Direct materials Direct labor Overhead Ending balance Units 2,000 6,000 4,000 7,200 3,000 14,400 2 7,000 1,000 Direct Materials Conversion Percent Complete 100% Work in Process Inventory-Bending ($) Debit Credit 2 Transferred out 100% Percent Complete 20% 60% a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory.
Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 2,000 units in beginning work in process inventory had direct materials costs of $2,400 and conversion costs of $1,600. Also shown is unit data for the Bending department this period. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning balance Direct materials Direct labor Overhead Ending balance Units 2,000 6,000 4,000 7,200 3,000 14,400 2 7,000 1,000 Direct Materials Conversion Percent Complete 100% Work in Process Inventory-Bending ($) Debit Credit 2 Transferred out 100% Percent Complete 20% 60% a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory.
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 11E: The charges to Work in ProcessAssembly Department for a period, together with information concerning...
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Hi, I was wondering how you got the beginning work in process amount for part b? 2400 and 1600, I am really confused on that part and dont know how to find it.
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