Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding department: Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Production cost information for the Molding department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 58,000 63,850 $ 302,000 614,150 Units 40,000 140,000 180,000 37,500 Calculate equivalent units of production for conversion. $ 121,850 916,150 Direct materials Percent Complete 100% 100% Conversion Percent Complete 55% 25%

Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding department: Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Production cost information for the Molding department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 58,000 63,850 $ 302,000 614,150 Units 40,000 140,000 180,000 37,500 Calculate equivalent units of production for conversion. $ 121,850 916,150 Direct materials Percent Complete 100% 100% Conversion Percent Complete 55% 25%

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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Mccabe Corporation uses the weighted-average method in its process costing. The following data pertain to its Assembly Department for September. Percent Complete Materials Conversion 10 % Units 800 55 % Work in process, September 1 Units started into production during September Units completed during September and transferred to the next department Work in process, September 30 8, 200 7,300 1,700 75% 25 % Required: Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for September using the weighted-average method. Materials Conversion Equivalent units of production
Boston Company uses the weighted-average method in its process-costing system. Operating data for the first processing department for September appear below for the physical flow of units, and for direct materials (DM) and conversion costs (CC). % of % of completion: completion: Units DM СС Beginning WIP inventory Started into production during September Ending WIP inventory 700 60% 50% 11,760 2,000 90% 70% DM CC Beginning WIP inventory Cost added during September 7,425 $ 60,005 $S 13,409 81,471 24 2$ 19 Compute the equivalent units of production for the processing department Direct materials 12,260 units 12,960 units 12,460 units 10,460 units E. None of the above. Conversion 11,860 units. A. В. 12,760 units 13,760 units 10,460 units С. D. 20 Determine the cost of WIP inventory ending balance: A. $ B. $ 27,000 24,300 18,900 C. $ D. $ 21,100 E. None of the above.
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Please do parts 4 and 5.
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