Whiston Corporation uses the weighted-average method in its process costing system. The following data were taken from the records of the first processing department for a recent month.?Work in process, beginning:??Units in process40?Percent complete with respect to materials60%?Percent complete with respect to conversion50%?Costs in the beginning inventory:??Materials cost$6,200?Conversion cost$16,300?Units started into production during the month190?Costs added to production during the month:??Materials cost$42,390?Conversion cost$136,340?Work in process, ending:??Units in process30?Percent complete with respect to materials50%?Percent complete with respect to conversion40%Required:a. How many units were transferred to the next department during the
month?b. What were the equivalent units of production for materials and for conversion costs for the month?c. What were the costs per equivalent unit of production for materials and for conversion costs for the month?d. What was the cost of the ending work in process inventory in the department at the end of the month?e. What was the cost of the units completed and transferred to the next department during the month?
What will be an ideal response?
Weighted-average method
a. Units completed and transferred out = Units in beginning work in process inventory + Units started into production or transferred in - Units in ending work in process inventory
Units completed and transferred out = 40 + 190 - 30 = 200
b. Weighted-average method equivalent units of production
| ? | ? | Materials | Conversion |
| ? | Units transferred to the next department | 200 | 200 |
| ? | Ending work in process inventory: | ? | ? |
| ? | Materials: 30 units × 50% | 15 | ? |
| ? | Conversion: 30 units × 40% | ? | 12 |
| ? | Equivalent units of production | 215 | 212 |
| ? | ? | Materials | Conversion |
| ? | Cost of beginning work in process inventory | $6,200 | $16,300 |
| ? | Costs added during the period | 42,390 | 136,340 |
| ? | Total cost (a) | $48,590 | $152,640 |
| ? | Equivalent units of production (b) | 215 | 212 |
| ? | Cost per equivalent unit (a) ÷ (b) | $226 | $720 |
| ? | ? | Materials | Conversion | Total |
| ? | Ending work in process inventory: | ? | ? | ? |
| ? | Equivalent units of production (a) | 15 | 12 | ? |
| ? | Cost per equivalent unit (b) | $226 | $720 | ? |
| ? | Cost of ending work in process inventory (a) × (b) | $3,390 | $8,640 | $12,030 |
| ? | ? | Materials | Conversion | Total |
| ? | Units completed and transferred out: | ? | ? | ? |
| ? | Units transferred to the next department (a) | 200 | 200 | ? |
| ? | Cost per equivalent unit (b) | $226 | $720 | ? |
| ? | Cost of units completed and transferred out (a) × (b) | $45,200 | $144,000 | $189,200 |
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