Chapter 4 In-Class Activity (to be done out of class and handed in Monday, 19th

Question

Chapter 4 In-Class Activity (to be done out of class and handed in Monday, 19th at beginning of class) Question 1: Scott Inc., manufactures a product that passes through two processes: mixing and molding. Al manufacturing costs are added uniformly in the mixing department. Information for the mixing department for May follows Work in process, May 1: Units Direct materials Direct labor Overhead 10,000 $23,000 $37,00052,00o $15 During May, 65,000 units were completed and transferred to the molding department. The following were incurred by the mixing department during May: cost Direct materials $115,000 $140,000!?7 135000 $55,000 Direct labor Overhead By May 31, 4,000 units that were 80% complete remained in Mixing. Scott uses the weighted average method. Required: A. Calculate the equivalent units of production using the weighted average method. 8, 200 B. Calculate the total costs to account for C. Calculate total cost per equivalent unit of production. D. Calculate the cost of goods transferred to the molding department during May. E. Calculate the cost of May's ending work-in-process for the mixing department.

Explanation / Answer

a) Equivalent unit = 65000+(4000*80%) = 68200 units

b) Total cost accounted for = 385000

c) Cost per equivalent unit = 385000/68200 = 5.645 per unit

d) Cost of goods transferred to molding department = 366935

e) Ending work in process cost = 18065

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