QUESTION 21 Question Co Jumper Company uses the weighted-average method in its p

Question

QUESTION 21 Question Co Jumper Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month Work in Process, beginning: Percent complete with respect to materials 75% Percent complete with respect to conversion...... Cost in the beginning: 5096 Units started into production during the month..... 15,000 Units completed and transferred out during the month 14,400 Costs added to production during the month: 97,000 m.215.000 Work in process, ending: 80% Percent complete with respect to materials Percent complete with respect to conversion … 40% Required First, determine the total cost of units transferred out to the next department Second, determine (a The number of units in process at the end of the perñod AND to) their total 3(12pt) :-.--T· Arial : T T T T Paragraph

Explanation / Answer

Ending work in process inventory = 400+15000-14400 = 1000 Units

Equivalent unit of material = 14400+(1000*80%) = 15200 Units

Equivalent unit of conversion = 14400+(1000*40%) = 14800 Units

Cost per equivalent unit of material = (1800+97000)/15200 = 6.50

Cost per equivalent unit of conversion = (3300+215000)/14800 = 14.75

1) Cost of units transferred out = (6.50+14.75)*14400 = $306000

2) Units in ending work in process = 1000 Units

Cost of ending work in process = (1000*80%*6.5+1000*40%*14.75) = $11100

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