Marvellous Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: Work in process beginning units in process                                                              800 stage of completion with respect to materials              50% stage odf completion with respect to conversion         20% cost in the beginning inventory materials cost                                                               2440 conversion cost                                                            4928 units started into production during the month        15,000 units completed and transferred out                          15,600 costs added to production during the month            materials cost                                                             96,470 conversion cost                                                         476,362 working in process, ending units in process                                                               200 Stage of completion with respect to materials              50% stage of completion with respect to conversion           90%         Required:Using the weighted-average method,a. Determine the equivalent units of production for materials and conversation costs b. Determine the cost per equivalent unit for materials and conversion costs  c. Determine the cost of units transferred out of the department during the month d. Determine the cost of ending work-in-process inventory in the department

Principles of Accounting Volume 2
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Chapter5: Process Costing
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Marvellous Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month:

Work in process beginning

units in process                                                              800

stage of completion with respect to materials              50%

stage odf completion with respect to conversion         20%

cost in the beginning inventory

materials cost                                                               2440

conversion cost                                                            4928

units started into production during the month        15,000

units completed and transferred out                          15,600

costs added to production during the month           

materials cost                                                             96,470

conversion cost                                                         476,362

working in process, ending

units in process                                                               200

Stage of completion with respect to materials              50%

stage of completion with respect to conversion           90%

 

 

 

 

Required:
Using the weighted-average method,
a. Determine the equivalent units of production for materials and conversation costs 
b. Determine the cost per equivalent unit for materials and conversion costs  
c. Determine the cost of units transferred out of the department during the month 
d. Determine the cost of ending work-in-process inventory in the department

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