Heller Corporation uses the weighted-average method in its process costing syste

Question

Heller Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed.

The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round your cost per equivalent unit answers to 2 decimal places.)

$13,344

$27,032

$18,495

$42,676

Please Explain

Heller Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Explanation / Answer

cost of ending WIP = (1080 *9.75)+(450 *17.7)

                    = 10530+ 7965

                     = 18495

Correct option is "C"

Material conversion Units transfered out 16900 16900 Ending WIP    1080      [1800*.60] 450      [1800*.25] Equivalent units    17980 17350 cost incured 175305     [13000+162305] 307095   [299295 + 7800] cost per equivalent unit 175305/17980 = 9.75 17.7     [307095/17350]

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