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Analysis of Work in Process T-account-Weighted-Average Method
Weston products manufactures an industrial cleaning compound that goes through three processing departments- Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below:
The May 1 work in process inventory consisted of 18,000 pounds with $14,600 in materials cost and $7,200 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion. During May, 167,000 pounds were started into production. The May 31 inventory consisted of 15,000 pounds that were 100% complete with respect to materials and 60% complete with respect to conversion. The company uses the weighted-average method in its
Required:
- Compute the Grinding Department’s equivalent units of productions for materials and conversion in May.
- Compute the Grinding Department’s costs per equivalent unit for materials and conversion for May.
- Compute the Grinding Department’s cost of ending work in process inventory for materials, conversion, and in total for May.
- Compute the Grinding Department’s of units transferred out t the Mixing Department for materials, conversion, and in total for May.
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Chapter 5 Solutions
Loose Leaf For Introduction To Managerial Accounting
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