Percent Complete Costs Units Materials Conversion Materials Conversion Beginning WIP 2,000 10% 90% $5,000 $1,000 Started...

		Percent Complete		Costs
	Units	Materials	Conversion	Materials	Conversion
Beginning WIP	2,000	10%	90%	$5,000	$1,000
Started into production	40,000			$100,000	$200,000
Ending WIP	3,000	30%	80%

Using the weighted average method of process costing, calculate the (1) number of units transferred out, (2) equivalent units of production with respect to materials and with respect to conversion, (3) the cost per equivalent unit for materials and for conversion, (4) ending WIP inventory value for materials and for conversion, and (5) the amount of cost transferred out with respect to materials, with respect to conversion, and in total.

Expert Solution

	Number of Units Transferred out
	Beginning WIP		2000
	Started into Production		40000
	Less : Ending Work in process		3000
1)	Number of Units Transferred out		39000

				Materials	Conversion
	Beginning Inventory	2000		200	1800
	Started Into Production	37000		37000	37000
	Units Transferred	39000		37200	38800
	Ending WIP	3000		900	2400
2)	Equivalent units of Production	42000		38100	41200

	Total Cost			100000	200000
	Total Equivalent Units			38100	41200
3)	Cost per equivalent units			2.62	4.85

4)	Value of Ending Work In Process			2362.20	11650.49
				(900*2.62)	2400*4.85
	Inventory in process, Beginning			5000	1000	6000

	To Complete inventory in process			524.93	8737.86	9262.80
				(200*2.62)	(1800*4.85)
	Started and Completed			97112.86	179611.65	276724.51
				37000*2.62	37000*4.85
5)	The amount of cost transferred			102637.80	189349.51	291987.31

ekkarill92 answered 2 years ago

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