Chapter 5, Problem 8E

Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted-Average Method

Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production is added at the beginning of processing in the department. Data for May for the first production department follow:

Required:

1. Calculate the first production department’s equivalent units of production for materials and conversion for May.
2. Compute the first production department’s cost per equivalent unit for materials and conversion for May.
3. Compute the first production department’s cost of ending work in process inventory for materials, conversion, and in total for May.
4. Compute the first production department’s cost of units transferred to the next production department for materials, conversion, and in total for May.
5. Prepare a cost reconciliation report for May.