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 31 309,880 580,000 375,371 Credit Completed and transferred to the Mixing Department The May 1 work in process inventory consisted of 127,000 pounds with $181,610 in materials cost and $128,270 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, 352,000 pounds were started into production. The May 31 inventory consisted of 111,000 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.

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 31 309,880 580,000 375,371 Credit Completed and transferred to the Mixing Department The May 1 work in process inventory consisted of 127,000 pounds with $181,610 in materials cost and $128,270 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, 352,000 pounds were started into production. The May 31 inventory consisted of 111,000 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.

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Description: Please solve for question one and two. Google CalendarGoogle DriveDebitFlorida Gulf Coast....Inventory, May 1MaterialsConversionInventory, May 31309,880580,000375, 371Weston Products manufactures an industrial cleaning compound that goes through thre

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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