The assembly division of Marzollo Time Pieces, Inc., uses the weighted-average m

Question

The assembly division of Marzollo Time Pieces, Inc., uses the weighted-average method of process costing. Consider the following data for the month of May 2014: ?(Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Requirement Summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to the units completed (and transferred out) and units in ending work in process Begin by summarizing the total costs to account for. Total Direct Production Costs Materials Costs Equivalent Units Work in process, beginning Costs added in current period Total costs to account for Next calculate cost per equivalent unit for Physical Direct Conversion Flow of Production Units Materials Costs Data Table Completed and transferred out during current period Work in process, ending Accounted for Work done to date 445 445 445 145 29 Physical Units Direct Conversion (Watches Materials Costs 532 474 105 S480,800 S96,800 Divide by Cost per equivalent unit Finally assign Beginning work in process (May 1 Started in May 2014 Completed during May 2014 Ending work in process (May 31) Total costs added d Degree of completion: direct materials, 90%; conversion costs, 40%. bDegree of completion: direct materials, 60%; conversion costs, 20%. 485 445 145 Print Done total costs to units completed (a 2014 $3,190,000 $1.420,000 Completed and transferred out Print Done

Explanation / Answer

Cost of units:

Completed and transferred out: 445 x $10100 = $4494500

In ending work in process: (87 x $6900) + (29 x $3200) = $600300 + $92800 = $693100

Total Production Costs Direct Materials Conversion Costs Work in process, beginning 577600 480800 96800 Costs added in current period 4610000 3190000 1420000 Total costs to account for 5187600 3670800 1516800

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