Helix Corporation produces prefabricated flooring in a series of steps carried o
ID: 2502099 • Letter: H
Question
Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:
Percent Complete
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.
compute the costs per equivalent unit for May for the first process
Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May.
Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:
Percent Complete
Units Materials Conversion Work in process inventory, May 1 53,000 65 % 30 % Work in process inventory, May 31 33,000 40 % 20 % Materials cost in work in process inventory, May 1 $ 46,100 Conversion cost in work in process inventory, May 1 $ 12,400 Units started into production 249,800 Units transferred to the next production department 269,800 Materials cost added during May $ 313,310 Conversion cost added during May $ 178,316 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.
Materials Conversion Equivalent units of productioncompute the costs per equivalent unit for May for the first process
Materials Conversion Cost per equivalent unitExplanation / Answer
Materials Conversion Units started into production 269800 269800 269800 Work in process inventory, May 31 33000 13200 6600 Equivalent units of production 283000 276400 Opennin gWIP Cost 46100 12400 cost added during May 313310 178316 TOTAL Cost 359410 190716 Cost per equivalent unit 1.27 0.69 Cost of ending work in process inventory Equivalent units of production Cost per equivalent unit Amount Materials 13200 1.27 16764 Conversion 6600 0.69 4554 Cost of ending work in process inventory 21318 Cost of units completed and transferred out Equivalent units of production Cost per equivalent unit Amount Materials 269800 1.27 342646 Conversion 269800 0.69 186162 Cost of ending work in process inventory 528808
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