Ok Corporation uses the weighted-average method in its process costing. The foll
ID: 2415821 • Letter: O
Question
Ok Corporation uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of June. Materials Conversion S 31.40 Cost per equivalent unit Equivalent units in ending work in process $27.10 520 1,520 During the month, 7,200 units were completed and transferred from the Assembly Department to the next department. Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method. (Omit the "$" sign in your response.] Total amount Cost of ending work in process inventory Cost of units completed and transferred outExplanation / Answer
1
Calculation of Cost of Ending Work In Process Inventory:
(Using Weighted Average Method)
Material
Conversion
Total
Equivalent units in ending Work In process (A)
1520
520
Cost Per Equivalent Unit (B)
$ 31.40
$ 27.10
Cost of Ending Work In Process Inventory = A*B
$ 47,728.00
$ 14,092.00
$ 61,820.00
2
Calculation of Cost of Completed and Transferred out units:
(Using Weighted Average Method)
Material
Conversion
Total
Completed and Transferred out units (A)
7200
7200
Cost Per Equivalent Unit (B)
$ 31.40
$ 27.10
Cost of Completed and Transferred out units = A*B=
$ 226,080.00
$ 195,120.00
$ 421,200.00
1
Calculation of Cost of Ending Work In Process Inventory:
(Using Weighted Average Method)
Material
Conversion
Total
Equivalent units in ending Work In process (A)
1520
520
Cost Per Equivalent Unit (B)
$ 31.40
$ 27.10
Cost of Ending Work In Process Inventory = A*B
$ 47,728.00
$ 14,092.00
$ 61,820.00
2
Calculation of Cost of Completed and Transferred out units:
(Using Weighted Average Method)
Material
Conversion
Total
Completed and Transferred out units (A)
7200
7200
Cost Per Equivalent Unit (B)
$ 31.40
$ 27.10
Cost of Completed and Transferred out units = A*B=
$ 226,080.00
$ 195,120.00
$ 421,200.00
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