https://newconnect.mheducation.com/flow/connect.html 0 Seved Weston Products man
ID: 2395788 • Letter: H
Question
https://newconnect.mheducation.com/flow/connect.html 0 Seved Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding. Mixing. 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 Work in Process-Grinding Department Completed and transferred to the Mixing Department Inventory, May 1 1,8 133,400 225,500 Materials Conversion Inventory, Hay 31 The May 1 work in process inventory consisted of 18,000 pounds with $14600 in materials cost and $7.200 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion. During May, 167000 pounds were started into production. The May 31 inventory consisted of 15,000 pounds that were 100% complete with respect to materials and 60% complete with respect to conversion. The company uses the weighted-average method in its process costing system. Required: 1. Compute the Grinding Department's equivalent units of production for materials and conversion in May. 2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May 3. Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May 4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3Required 4 Compute the Grinding Department's equivalent units of production for materials and conversion in May Prey 1 of 2 Next>Explanation / Answer
Beginning work in process 18,000 Completed & transferred 170,000 started during the year 167,000 ending work in process 15,000 units to be accounted 185,000 units accounted for 185,000 Materials CC 1) Equivalent units of production 185,000 179,000 units % Materials %CC CC Completed & transferred 170,000 100% 170,000 100% 170,000 ending work in process 15,000 100% 15,000 60% 9,000 185,000 179,000 Materials CC 2) Cost per Equivalent units 0.80 1.30 Materials CC Total beginning work in proces 14,600 7,200 21,800 cost added during the year 133,400 225,500 358,900 total cost 148,000 232,700 380,700 equivalent units 185,000 179,000 cost per unit 0.80 1.30 2.10 3) Materials CC Total cost of ending Work in process inventory 12000 11700 23700 units per unit total materials 15,000 0.80 12000 conversion 9,000 1.30 11700 cost of ending WIP 23700 4) Materials CC Total Cost of units transferred 136000 221000 357000 units per unit total materials 170,000 0.80 136000 conversion 170000 1.30 221000 cost of ending WIP 357000
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