Answered: Pant Risers manufactures bands for…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3PA: Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired...

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Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year’s production:

Units to Account For	Units	Materials	Conversion
Beginning work in process inventory	500	500	250
Started	21,500
Total units to accounted for	22,000

Ending inventory was 100% complete as to materials and 80% complete as to conversion, and the total materials cost is $60,500 and the total conversion cost is $38,010.

Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? If required, round final answers to two decimal places.

	Cost per unit
Materials	$fill in the blank 1
Conversion	$fill in the blank 2

Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory?

Inventory transferred out	$fill in the blank 3
Ending WIP inventory	$fill in the blank 4

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