Ok Corporation uses the weighted-average method in its process costing. The foll

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 Cost per equivalent unit $ 31.20 $ 26.90 Equivalent units in ending work in process 1,500 500 During the month, 7,000 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 out $

The following costs were incurred in September:

Conversion costs during the month totaled:

$74,800

$64,300

$166,800

$80,500

  Direct materials $45,500      Direct labor $35,000      Manufacturing overhead $29,300      Selling expenses $21,200      Administrative expenses $35,800   

Explanation / Answer

Statement showing the Clsoning inventory & cost of process transferred to next process (a) (b) (a)*(b) ( c) (a)* © Particulars Equivalent cost Equivalent Units Closing inventory Equivalent Units Transferred to next process Material 31.2 1500 46800 7000 218400 Convertion 26.9 1500 40350 7000 188300 87150 406700 Convertion cost during the month of september Particulars Amount ($) Direct Labour 35000 Material Overhead 29300 64300

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