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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Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating department: Units Direct materials Percent Complete Conversion Percent Complete Beginning work in process inventory 80,000 60% 20% Units started and completed 250,000 Units completed and transferred out 330,000 Ending work in process inventory 30,000 40% 10% Production cost information for the Fabricating department follows. Beginning work in process Direct materials $ 98,760 Conversion 79,700 $ 178,460 Costs added this period Direct materials $ 646,800 Conversion 919,300 1,566,100 Calculate the cost per equivalent unit for conversion.
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