Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process-Grinding Department Debit Inventory, May 1 Materials Conversion Inventory, May 31 307,000 709,250 280,600 ? Credit Completed and transferred to the Mixing Department The May 1 work in process inventory consisted of 100,000 pounds with $219,000 in materials cost and $88,000 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion. During May, 295,000 pounds were started into production. The May 31 inventory consisted of 88,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion. The company uses the weighted-average method in its process costing system. Required: 1. Compute the Grinding Department's equivalent units of production for materials and conversion in May. 2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. 3. Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May. Complete this question by entering your answers in the tabs below. Cost per equivalent unit ? Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Materials Conversion
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process-Grinding Department Debit Inventory, May 1 Materials Conversion Inventory, May 31 307,000 709,250 280,600 ? Credit Completed and transferred to the Mixing Department The May 1 work in process inventory consisted of 100,000 pounds with $219,000 in materials cost and $88,000 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion. During May, 295,000 pounds were started into production. The May 31 inventory consisted of 88,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion. The company uses the weighted-average method in its process costing system. Required: 1. Compute the Grinding Department's equivalent units of production for materials and conversion in May. 2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. 3. Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May. Complete this question by entering your answers in the tabs below. Cost per equivalent unit ? Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Materials Conversion
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing,
and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the
Grinding Department for May is given below:
Work in Process-Grinding Department
Debit
Inventory, May 1
Materials
Conversion
Inventory, May 31
Credit
307,000 Completed and transferred
to the Mixing Department
709, 250
280,600
?
The May 1 work in process inventory consisted of 100,000 pounds with $219,000 in materials cost and $88,000 in conversion cost.
The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion.
During May, 295,000 pounds were started into production. The May 31 inventory consisted of 88,000 pounds that were 100%
complete with respect to materials and 70% complete with respect to conversion. The company uses the weighted-average method in
its process costing system.
Required:
1. Compute the Grinding Department's equivalent units of production for materials and conversion in May.
2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May.
3. Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May.
4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for
May.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2 Required 3 Required 4
Cost per equivalent unit
?
Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. (Round your answers to 2
decimal places.)
Materials
Conversion
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