lost Barsoux Inc. uses the weighted-average method in its process costing system

Question

lost

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. Required: Using the weighted-average method: Determine the equivalent units of production for materials and conversion costs. Determine the cost per equivalent unit for materials and conversion costs. (Round your answers to 2 decimal places.) 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.) 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.)

Explanation / Answer

Hi,

Please find the answers as follows:

Part A



Material Conversion
Units Transferred to Next Department 46060 46060
Ending WIP


Material (2840*.50) 1420

Conversion (2840*.20)
568
Equivalent Units of Production 47480 46628




Part B



Material Conversion
Cost of Beginning WIP 3700 9256
Costs Added During the Month 803405 598606
Total Costs 807105 607862
Equivalent Units of Production 47480 46628
Cost Per Unit Equivalent 16.99 13.04








Part C



Material Conversion Total Cost of Units Transferred Out 782559 600622 1383182



Part D



Material Conversion Total Cost of EndingWIP 24126 7405 31530

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