Question

Weighted-average method, assigning costs (continuation of 17-19). For the data in Exercise 17-19, summarize total costs to account for, calculate cost per equivalent unit for direct materials and conversion costs, and assign total costs to units completed (and transferred out) and to units in ending work in process.

 

Answer 1

Weighted-average method, assigning costs (continuation of 17-19).

Solution Exhibit 17-20 summarizes total costs to account for, calculates cost per equivalent unit of work done to date in the Assembly Division of Fenton Watches, Inc., and assigns costs to units completed and to units in ending work-in-process inventory.

 

SOLUTION EXHIBIT 17-20

Steps 3, 4, and 5: Summarize Total Costs to Account For, Compute Cost per Equivalent Unit, and Assign Total Costs to Units Completed and to Units in Ending Work in Process;

 

Weighted-Average Method of Process Costing, Assembly Division of Fenton Watches, Inc., for May 2009.

 

*Equivalent units completed and transferred out from Solution Exhibit 17-19, Step 2.

† Equivalent units in work in process, ending from Solution Exhibit 17-19, Step 2.