quivalent Units and Product Cost Report--Weighted Average Method   The following data (and annotations) are for Joyner Company's processing department work-in-process account for the month of June 2019;                                                 Beginning inventory (700 units, 40% complete)                     Direct materials    $                             2,905                   Conversion costs    $                             7,942                   Current period                       Direct materials (5,000 units)   35,000                   Direct labor   59,600                   Manufacturing overhead applied   37,800                                               Joyner used the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of 900 units, 70% complete. Compute the following:                                                 a. Equivalent units for materials and conversion.                                                 b. Cost per equivalent unit for materials and conversion.                                                 c. Total cost assigned to the units transferred out.

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E4-5A Equivalent Units and Product Cost Report--Weighted Average Method
  The following data (and annotations) are for Joyner Company's processing department work-in-process account for the month of June 2019;        
         
                           
  Beginning inventory (700 units, 40% complete)                  
  Direct materials    $                             2,905                
  Conversion costs    $                             7,942                
  Current period                    
  Direct materials (5,000 units)   35,000                
  Direct labor   59,600                
  Manufacturing overhead applied   37,800                
                           
  Joyner used the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of 900 units, 70% complete. Compute the following:        
         
                           
  a. Equivalent units for materials and conversion.                  
                           
  b. Cost per equivalent unit for materials and conversion.                  
                           
  c. Total cost assigned to the units transferred out.                

 

 

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