value: 7.14 points Oleksy Corporation uses the weighted-average method in its pr

Question

value: 7.14 points Oleksy Corporation uses the weighted-average method in its process costing. The following data concem the company's Assembly Department for the month of June. Materials Conversion $31.20 Cost per equivalent unit Equivalent units in ending work in process $26.90 500 1,500 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. Total Amount Cost of ending work in process inventory Cost of units completed and transferred out

Explanation / Answer

Total Amount Cost of ending work in process $           60,250 Cost of units completed and transferred out $        4,06,700 Working: a. Costs of ending work in process: Equivalent units of production (EUP) Cost per EUP Total Cost Materials 1,500 $           31.20 $         46,800 Conversion 500 $           26.90 $         13,450 Total 2,000 $         60,250 b. Cost of units completed and transferred out: Equivalent units of production (EUP) Cost per EUP Total Cost Materials 7,000 $           31.20 $     2,18,400 Conversion 7,000 $           26.90 $     1,88,300 Total 14,000 $     4,06,700

Related Questions

Navigate

• Browse (All)
• Browse V
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.