Check my work Weston Products manufactures an industrial cleaning compound that

Question

Check my work Weston Products manufactures an industrial cleaning compound that goes through three processing departments-Grinding, Mixing and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process-Grinding Department InventorY, May 1 491,780 Completed and transferred to the Mixing Department 859,040 535,17!5 Materials Conversion Inventory, May 31 The May 1 work in process inventory consisted of 134,000 pounds with $300,160 in materials cost and $191,620 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion During May, 349,000 pounds were started into production. The May 31 inventory consisted of 47,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion. The company uses the weighted-average method in its process costing system. Requirecd 1. Compute the Grinding Department's equivalent units of production for materials and conversion in May 2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May 3. Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May.

Explanation / Answer

1 Materials Conversion costs Units completed and transferred 436000 436000 Ending work in process inventory 47000 32900 Equivalent units of production 483000 468900 2 Materials Conversion costs Total costs 1159200 726795 Equivalent units of production 483000 468900 Cost per Equivalent unit 2.4 1.55 3 Materials Conversion costs Total Cost of ending work in process inventory 112800 50995 163795 4 Cost of units completed and transferred out 1046400 675800 1722200

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