Walser Inc. produces a product that passes through two processes. During Februar

Question

Walser Inc. produces a product that passes through two processes. During February, equivalent units were calculated using the weighted average method:

The costs that Walser had to account for during the month of February were as follows:

1. Using the weighted average method, determine unit cost. If required, round your answer to the nearest cent and use rounded amount in subsequent requirements.

2. Under the weighted average method, what is the total cost of units transferred out? What is the cost assigned to units in ending inventory? If required, round your answers to the nearest dollar.

Cost of units transferred out

Cost of ending inventory

Units completed 200,000 Add: Units in EWIP X Fraction complete: (57,930 X 30%) 17,379 Equivalent units of output (weighted average) 217,379 Less: Units in BWIP X Fraction complete: (20,000 X 80%) 16,000 Equivalent units of output (FIFO) 201,379

Explanation / Answer

Weighted Average Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. A1. Quantities Equivalent Units Whole Units Materials Units accounted for Transferred out 200000 200000 Work in Process, Ending 80% 20000 16000 Equivalent Units-Weighted Average 220000 216000 A2. Cost Materials Work in Process, Beginning 109000 add:Started into production 1301790 Total Cost to account for 1410790 Equivalent Units 216000 Unit Cost Total Cost/Equivalent Units 6.53 2. Cost accounted for Work in Process, Ending Material Equivalent Units 16000 Cost per Equivalent Unit 6.53 -Total Cost Accounted For 104503 Unit Completed and transferred out Equivalent Units 200000 Cost per Equivalent Unit 6.53 -Total Cost Accounted For 1306287

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