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Barsoux Inc. uses the weighted average method in its process costing system. The following data concern the operations of the company’s first processing department for a recent month. |
| Work in process, beginning: | ||
| Units in process | 1,300 | |
| Percent complete with respect to materials | 70% | |
| Percent complete with respect to conversion | 80% | |
| Costs in the beginning inventory: | ||
| Materials cost | $ | 2,650 |
| Conversion cost | $ | 6,736 |
| Units started into production during the month | 35,000 | |
| Units completed and transferred out | 34,300 | |
| Costs added to production during the month: | ||
| Materials cost | $ | 563,405 |
| Conversion cost | $ | 472,606 |
| Work in process, ending: | ||
| Units in process | 2,000 | |
| Percent complete with respect to materials | 50% | |
| Percent complete with respect to conversion | 20% | |
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| Required: |
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Using the weighted average method: |
| a. |
Determine the equivalent units of production for materials and conversion costs. (Carry calculations out to the nearest tenth of a cent.) |
| Materials | Conversion | |
| Equivalent units of production | ||
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| b. |
Determine the cost per equivalent unit for materials and conversion costs. (Round your answers to 2 decimal places.) |
| Materials | Conversion | |
| Cost per equivalent unit | $ | $ |
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| c. |
Determine the cost of units transferred out of the department during the month. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) |
| Materials | Conversion | Total | |
| Cost of units completed and transferred out | $ | $ | $ |
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| d. |
Determine the cost of ending work in process inventory in the department. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) |
| Materials | Conversion | Total | |
| Cost of ending work in process inventory | $ | $ | $ |
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