ed Outlook Web App Apple a Disney EESPN Yahoo MMeGrawHill Co

ed Outlook Web App Apple a) Disney EESPN >Yahoo! MMeGraw-Hill Correct Chapter 4 Seved Help Save & Exit Submit 10 Check my work 2 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 10 points inventory, May 1 to the Mixing Department 587,200 210,240 Skipped Materials The May 1 work in process inventory consisted of 60,000 pounds with $104,400 in materials cost and $36,000 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, 304,000 pounds were started into production. The May 31 inventory consisted of 55,000 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 process costing system. eBook Print ces Required: 1. Compute the Grinding Department\'s equivalent units of production for materials and conversion in May. 2. Compute the Grinding Department\'s costs per equivalent unit for materials and conversion for May. 3. Compute the Grinding Department\'s cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the Grinding Department\'s cost of units transferred out to the Mixing Department for materials, conversion, and in total for May K Prev 2 of 4 li Next>

Solution

UNITS TO ACCOUNT FOR: Beginning Work in Process units 60,000 Add: Units Started in Process 304,000 Total Units to account for: 364,000 UNITS TO BE ACCOUNTED FOR: Units started and completed 309,000 Ending Work in Process 55,000 Total Units to be accounted for: 364,000 Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units started and completed 100% 309,000 100% 309,000 Ending Work in Process 100% 55,000 60% 33,000 Total Equivalent units 364,000 342,000 TOTAL COST TO ACCOUNT FOR: Material Conversion Beginning work in Process 104,400 36,000 Cost Added during May 587,200 210,240 Total Cost to account for: 691,600 246,240 Total Cost to account for: 937,840 COST PER EQUIVALENT UNIT: Material Conversion Total cost added during the year 691,600 246,240 Equivalent Units 364,000 342,000 Cost per Equivalent unit 1.9 0.72 TOTAL COST ACCOUNTED FOR: Units started and Transferred out (309000 units) Equivalent unit Cost per EU Total Cost Material 309,000 1.9 587100 Conversion Cost 309,000 0.72 222480 Total Cost of Units completed and transferred out: 809580 Ending Work in process (55000 units) Equivalent unit Cost per EU Total Cost Material 55,000 1.9 104500 Conversison Cost 33,000 0.72 23760 Total cost of Ending Work in process: 128,260 Req 1: Material conversion Equivalent units 364000 342000 Req 2: Material Conversion Cost per Eq. unit 1.9 0.72 Req 3: Material Conversion Total Ending WIP 104500 23760 128260 Req 4: Material Conversion Total Cost of units transferred out 587100 222480 809580