Superior Micro Products uses the weightedaverage method in i

Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,800 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $654,220 in total. The ending work in process inventory in January consisted of 2,500 units, which were 50% complete with respect to materials and 30% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Materials Labor Overhead 12.80 4.20 7.40 Cost per equivalent unit Required: . Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January. 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in total for January. 4. Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning work in process inventory and costs added during the month.) Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Required 4 Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month Materials Labor Overhead Equivalent units

Solution

1) Material Labor Overhead Equivalent units 1250 750 750 Working: Material Material Material Physical Units % of completion Equivalent Units % of completion Equivalent Units % of completion Equivalent Units Ending Work in process 2500 50% 1250 30% 750 30% 750 Total 2500 1250 750 750 2) Material Labor Overhead Total Costs of Ending Work in process $                 16,000 $                   3,150 $                   5,550 $                 24,700 Working: Costs of Ending Work in process: Equivalent units Costs per equiavlent unit Total Materials 1250 $                   12.80 $                 16,000 Labor 750 $                      4.20 $                   3,150 Overhead 750 $                      7.40 $                   5,550 Total $                 24,700 3) Material Labor Overhead Total Costs of units completed and transferred out $             3,30,240 $             1,08,360 $             1,90,920 $             6,29,520 Working: Costs of units transfrred out to next department: Equivalent units Costs per equiavlent unit Total Materials 25800 $                   12.80 $             3,30,240 Labor 25800 $                      4.20 $             1,08,360 Overhead 25800 $                      7.40 $             1,90,920 Total $             6,29,520 Note: Units completed and transfrred out are 100% completed. 4) Cost Reconcilation Total cost to be accounted for $             6,54,220 Costs accounted for as follows: Costs of units completed and transferred out $             6,29,520 Costs of Ending Work in process $                 24,700 Total cost accounted for $             6,54,220