Metal Corporation uses a process costing system. Data concerning the first processing department for the most...

Metal Corporation uses a process costing system. Data concerning the first processing department for the most recent month are listed below:


Beginning work-in-process inventory:
Units in beginning work-in-process inventory		1,200
Materials costs	$	9,120
Conversion costs	$	15,840
Percent complete with respect to materials		40	%
Percent complete with respect to conversion		30	%
Units started into production during the month		8,000
Materials costs added during the month	$	120,800
Conversion costs added during the month	$	284,000
Ending work-in-process inventory:
Units in ending work-in-process inventory		1,600
Percent complete with respect to materials		35	%
Percent complete with respect to conversion		40	%

Required:

How many physical units of product are transferred out during the month?
If Metal uses the weighted average method, what are the equivalent units of materials for the month?
If Metal uses the weighted average method, what is the cost per equivalent unit for materials for the month?
If Metal uses the FIFO method, what are the equivalent units of conversion for the month?
If Metal uses the FIFO method, what is the cost per equivalent unit for conversion for the month?

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Expert Solution

ekkarill92 answered 1 year ago

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