Helx Corporation produces prefabricated fooring in a series of steps carried out

Question

Helx Corporation produces prefabricated fooring in a series of steps carried out in production departments All of the material that is used in the fiest production department is added at the beginning of processing in hat department Data for May for the first production department follow Percent Complete Work in process inventory, May 1 Work in process inventory, May 31 5.000 100% 10,000 100% 40% 30% Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Unts started into production Units transferred to the next production department Materials cost added during May Conversion cost sdded during May S 1,500 $ 4,000 180,000 175,000 S 54,000 $ 352,000 Required: 1. Assume that the company uses the weighted-average method of accounting for units and costs Determine the equivalent units for May for the first process. Equivalent units of production 2. Compute the costs per equivalent unit for May for the first process. (Round your answers to 2 decimal places.) Cost per equivalent unit 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May Cost of ending work in process inventory Cost of units completed and transferred out ll w

Explanation / Answer

1) Equivalent unit :

2) Calculate cost per equivalent unit :

3) Cost of ending work in process inventory = 10000*.30+3000*2 = $9000

Cost of units completed and transferred out = 2.3*175000 = $402500

Material Conversion Units transferred out 175000 175000 Ending work in process 10000 3000 Total equivalent unit 185000 178000

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