Required: Prepare journal entries showing the flow of costs through the two processing departments during April. EXERCISE 4-8 Equivalent Units and Cost per Equivalent Unit--Weighted-Average Method [L04-2 LO4-3, LO4-4] Helix Corporation 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 begin- ning of processing in that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion 5,000 100% 40% Work in process inventory, May 1 Work in process inventory, May 31 . .. 10,000 100% 30% $1,500 $4,000 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 180,000 175,000 $54,000 $352,000 Required: Assume that the company uses the weighted-average method of accounting for units and 1. costs. Determine the equivalent units for May for the first process. 2. Compute the costs per equivalent unit for May for the first process. 3. Determine the total cost of ending work in process inventory and the total cost of units trans ferred to the next process in May.
Required: Prepare journal entries showing the flow of costs through the two processing departments during April. EXERCISE 4-8 Equivalent Units and Cost per Equivalent Unit--Weighted-Average Method [L04-2 LO4-3, LO4-4] Helix Corporation 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 begin- ning of processing in that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion 5,000 100% 40% Work in process inventory, May 1 Work in process inventory, May 31 . .. 10,000 100% 30% $1,500 $4,000 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 180,000 175,000 $54,000 $352,000 Required: Assume that the company uses the weighted-average method of accounting for units and 1. costs. Determine the equivalent units for May for the first process. 2. Compute the costs per equivalent unit for May for the first process. 3. Determine the total cost of ending work in process inventory and the total cost of units trans ferred to the next process in May.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
4-8
![Required:
Prepare journal entries showing the flow of costs through the two processing departments during
April.
EXERCISE 4-8 Equivalent Units and Cost per Equivalent Unit--Weighted-Average Method [L04-2
LO4-3, LO4-4]
Helix Corporation 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 begin-
ning of processing in that department. Data for May for the first production department follow:
Percent Complete
Units
Materials
Conversion
5,000
100%
40%
Work in process inventory, May 1
Work in process inventory, May 31 . ..
10,000
100%
30%
$1,500
$4,000
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
180,000
175,000
$54,000
$352,000
Required:
Assume that the company uses the weighted-average method of accounting for units and
1.
costs. Determine the equivalent units for May for the first process.
2. Compute the costs per equivalent unit for May for the first process.
3. Determine the total cost of ending work in process inventory and the total cost of units trans
ferred to the next process in May.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F85e39e9b-3b6a-4fb6-8406-b63a567ff03b%2Fd320cb52-0a1a-4c93-9620-cee44fec7ebe%2Ffpk79nh.jpeg&w=3840&q=75)
Transcribed Image Text:Required:
Prepare journal entries showing the flow of costs through the two processing departments during
April.
EXERCISE 4-8 Equivalent Units and Cost per Equivalent Unit--Weighted-Average Method [L04-2
LO4-3, LO4-4]
Helix Corporation 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 begin-
ning of processing in that department. Data for May for the first production department follow:
Percent Complete
Units
Materials
Conversion
5,000
100%
40%
Work in process inventory, May 1
Work in process inventory, May 31 . ..
10,000
100%
30%
$1,500
$4,000
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
180,000
175,000
$54,000
$352,000
Required:
Assume that the company uses the weighted-average method of accounting for units and
1.
costs. Determine the equivalent units for May for the first process.
2. Compute the costs per equivalent unit for May for the first process.
3. Determine the total cost of ending work in process inventory and the total cost of units trans
ferred to the next process in May.
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