Question

In: Accounting

The following information pertains to the Moline Facility for the month of May (all materials are...

The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process):

Units Material Costs
Beginning work in process 110,000 $ 31,000
Started in May 260,000 108,200
Units completed 235,000
Ending work in process 135,000

Required:

Compute the cost per equivalent unit for materials using the weighted-average method.

1. Total costs to be accounted for?______

2. Cost per equilavent unit?______

Solutions

Expert Solution

Material
1) Cost to be accounted for          139,200
2) Cost per equivalent unit 0.38
Cost Reconciliation Report
Costs to be accounted for:
Total
Costs in beginning inventory            31,000
Cost added during the year          108,200
Total cost to account for          139,200
Total
Cost Accounted for
Units completed and transfer            88,411
Units in ending inventory            50,789
   Total Cost Accounted for          139,200
Moline
Production Cost Report
Working Note 1:
Actual Units
Calculation of Physical UNITS:
Units in beginning inventory          110,000
Units started during the period          260,000
Units to be accounted for          370,000
Actual Units Equivalent Units
Material
Units Completed and Transferred 235000 235000
Units in ending inventory 135000 135000
Total accounted for 370000 370000
Working Note 2:
Costs to be accounted for:
Total Material
Costs in beginning inventory            31,000             31,000
Cost added during the year          108,200          108,200
Total cost to account for          139,200          139,200
Equivalent Units from above 370000
Cost per equivalent unit 0.38

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