Weston Products manufactures an industrial cleaning compound that goes through t

Question

Weston Products manufactures an industrial cleaning compound that goes through three processing departments- Grinding. Moding, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below Completed and translerred to Inventory. May 1 Materials Conversion 178.000the Moding Department 724,040 402,000 Inventory May 31 The May 1 work in process inventory consisted of 50,000 pounds with $109.000 in materials cost and S09.000 in conversion cost. The May 1 work in process inventory was 100% complete with respect to. materials and 80% complete with respect to conversion. During May 300,000 pounds were started into production. The May 31 inventory consisted of 140,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion. The company uses the to account for units and costs. method Required 1. Determine the equivalent units of production for May Materials Equivalent units of production 2 Determine the costs per equivalent unit for May (Round your answers to 2 decimal places.) ion Cost per equivalent unt 3 Deermine the oost of the unis completed and transferred to the Moing Deparment dunng May (Round your intermed ate ca culations to 2 decimal places Materials-Conversion ano transfer

Explanation / Answer

Beginning work in process 50,000 Completed & transferred 241,000 started during the year 306,000 ending work in process 140,000 units to be accounted 356,000 units accounted for 356,000 Materials CC 1) Equivalent units of production 381,000 339,000 units % Materials %CC CC Completed & transferred 241,000 100% 241,000 100% 241,000 ending work in process 140,000 100% 140,000 70% 98,000 381,000 339,000 Materials CC 2) Cost per Equivalent units 2.17 1.42 Materials CC Total beginning work in proces 109,000 69,000 178,000 cost added during the year 724,040 402,000 1,126,040 total cost 833,040 471,000 1,304,040 equivalent units 381,000 339,000 cost per unit 2.19 1.39 3.58 3) Materials CC Total Cost of units completed & transferred out 526936 334841 861777

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