Complete this question by entering your answers in the tabs below. Required 1Required 2Required 3Required 4...

Complete this question by entering your answers in the tabs below. Required 1Required 2Required 3Required 4 Calculate the first production department's equivalent units of production for materials and conversion for May. Materials Conversion Equivalent units of production 304,200 Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion Work in process inventory, May 1 73,000 100 % 50 % Work in process inventory, May 31 53,000 100 % 30 % Materials cost in work in process inventory, May 1 $ 57,900 Conversion cost in work in process inventory, May 1 $ 17,000 Units started into production 251,200 Units transferred to the next production department 271,200 Materials cost added during May $ 120,410 Conversion cost added during May $ 244,261 Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

Expert Solution

1
	Materials	Conversion
Units completed and transferred out	271200	271200
Work in process, ending:
53000 X 100%	53000
53000 X 30%		15900
Equivalent units of production	324200	287100

2
	Materials	Conversion
Work in process, May 1	57900	17000
Cost added during May	120410	244261
Total costs	178310	261261
Divide by Equivalent units of production	324200	287100
Cost per Equivalent unit	0.55	0.91

3
	Materials	Conversion	Total
Work in process, ending units	53000	15900
X Cost per Equivalent unit	0.55	0.91
Cost of ending work in process inventory	29150	14469	43619

4
	Materials	Conversion	Total
Units completed and transferred out	271200	271200
X Cost per Equivalent unit	0.55	0.91
Cost of Units completed and transferred out	149160	246792	395952

ekkarill92 answered 1 year ago

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