Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking....

Work in Process—Grinding Department


Inventory, May 1	281,600	Completed and transferred to the Mixing Department	?
Materials	680,600
Conversion	503,280

Inventory, May 31	?

The May 1 work in process inventory consisted of 80,000 pounds with $155,200 in materials cost and $126,400 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 80% complete with respect to conversion. During May, 318,000 pounds were started into production. The May 31 inventory consisted of 92,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion. The company uses the weighted-average method to account for units and costs.

Required:

Determine the equivalent units of production for May.

	Materials	Conversion
Equivalent units of production

2.	Determine the costs per equivalent unit for May. (Round your answers to 2 decimal places.)

	Materials	Conversion
Cost per equivalent unit

3.	Determine the cost of the units completed and transferred to the Mixing Department during May. (Round your intermediate calculations to 2 decimal places.)

	Materials	Conversion	Total
Cost of units completed and transferred out

Solutions

Expert Solution

Solution 1:

Computation of Equivalent unit of Production (Grinding Department)
Particulars	Physical Units	Material	Conversion
Unit completed & Transferred out (80000 + 318000 - 92000)	306000	306000	306000
Closing WIP:	92000
Material (100%)		92000
Conversion (70%)			64400

Equivalent units of production	398000	398000	370400

Solution 2:

Computation of Cost per equivalent unit of Production (Grinding Department)
Particulars	Material	Conversion
Opening WIP	$155,200.00	$126,400.00
Cost Added during May	$680,600.00	$503,280.00

Total cost to be accounted for	$835,800.00	$629,680.00
Equivalent units of production	398000	370400
Cost per Equivalent unit	$2.10	$1.70

Solution 3:

Computation of Cost of ending WIP and units completed & transferred out (Grinding Department)
Particulars	Material	Conversion	Total
Equivalent unit of Ending WIP	92000	64400
Cost per equivalent unit	$2.10	$1.70
Cost of Ending WIP (Equivalent unit * Cost per equivalent unit)	$193,200	$109,480	$302,680
Units completed and transferred	306000	306000
Cost of units completed & Transferred (Unit completed * cost per equivalent unit)	$642,600	$520,200	$1,162,800

ekkarill92 answered 1 year ago

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