Helix Corporation produces prefabricated flooring in a series of steps carried o

Question

Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow Percent Complete Work in process inventory, May 1 Work in process inventory, May 31 Unts Materac 72,000 100% 52,000 100% 50% 30% Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May S 57,300 S 16,700 250,800 270,800 389,660 S 241,060 Required: 1. Assume that the company uses the weighted-average method of accounting for units and costs Determine the equivalent units for May for the first process Materials Convers Equivalent units of production 2. Compute the costs per equivalent unit for May for the first process. (Round your answers to 2 decimal places.) Materials Cost per equivalent unit Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May. (Ro answers to the nearest whole number.) 3. und your intermediate calculations to 2 decimal places. Round your final Total Cost of ending work in process inventory Cost of units completed and transferred out

Explanation / Answer

Solution 1:

Solution 2:

Solution 3:

Computation of Physical and Equivalent unit of Production - Weighted Average (First Department) Particulars Physical Units Material Conversion Unit completed & Transferred out 270800 270800 270800 Closing WIP: 52000 Material (100%) 52000 Conversion (30%) 15600 Equivalent units of production 322800 322800 286400

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