10 370 ports uses the weighted-average method in ts process costing system The f

Question

10 370 ports uses the weighted-average method in ts process costing system The first processing units in its beginning work in process Harker Corporation departmentthe Welding Department started the month with 25.000 u inventory that were 35% compete wth respect to crverson costs. The conversion cost in ris begning work in process month and 90.000 unit were completed in the Welding Department and t depatment There were 30,000 units in the ending work in process inventory of the Welding Depertment that were 15% comete with sespect to conversion costs. A total of $679.400 in conversion costs were ncured in the department ourting the month nventory was $44.950 An additonal 95.000 units were started into production during the transferted to the next processing The cost per equvalent unit for conversion costs for the month is closest to O $7853 $7665 O $566 O $7152

Explanation / Answer

Average Step 1 Step 2 Conversion Costs Equivalent Units Step 3 Physical Units Completion Percentage Direct materials Conversion Costs Work-in-process, Beginning $44,950 Costs added during the month 679,400 Input Total costs to account for $724,350 Work-in-process, Beginning 25,000 Step 4 Direct materials 100 Divide by equivalent units 94,500 Conversion 35 Equivalent unit costs $7.665 Ans is B Transferred-in 95,000 Units to account for 120,000 Output Units completed 90,000 100% 90,000 90,000 Work-in-process, Ending 30,000 Direct materials 100 30000 Conversion 15 4,500 Units accounted for 120,000 Total equivalent units 120,000 94,500

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