Weighted Avge methodStt of Equivalent Production IN Out Equi

Weighted Avge method:Stt of Equivalent Production IN Out Equivalent Units Pariculars Units Pariculars Units Material Conversion 3000 Completed P 85000 Ending WIP 88000 82000 6000 88000 % complete | Equi Units % complete Equi Unit 82000 1800 83800 82000 4800 86800 Opening WIP Units Introduced 100% 30% 100% 80% Statement of Cost Cost incurred in Elements of cost Cost pu (d-b+c) (e d/a) Total Equi Unit (a) Prev Period (b) Current Period C Material Conversion Totals 86800 83800 $900$151,000 $5,900$161,700 $151,900 $167,600 $1.75 $2.00 $3.75 $6,800 $312,700$319,500 Stt of Evaluation Element of cos Equi Unist Cost pu a) Compl Prod Mat Conversion Weighted Avge Method Tot Cost Component cost 82000 82000 1.75 $143,500 2.00 $164,000 $307,500 b)Closing WIP Mat Conversion Total Cost 4800 1800 1.75 2.00 $8,400 $3,600 $12,000 $319,500

Solution

Weighted average cost Beggining units 3000 Transferred out 82,000 Started intro production 85000 Ending units 6,000 Units accounted for 88000 88000 Equivalent units Material Conversion cost Units transferred                      A 82000 82000 Ending Units 6,000 6,000 Completion 80% 30% B 4800 1800 Total units 86800 83800 Cost per equivalent units Particulars Material Conversion cost total As at beginning 900 5900 6800 Added during the month 151000 161700 312700 Cost to be accounted for 151900 167600 319500 Total eqivalent units 86800 83800 Cost per equivalent unit 1.75 2.00 3.75 Cost per equivalent unit = Cost to be accounted for / Total equivalent units Cost of ending work in progress Conversion cost Particulars Material Total Ending units 6,000 6,000 Cost per equivalent units 1.75 2.00 Completion 80% 30% Total cost 8400 3600 12000 Cost of goods transferred Conversion cost Particulars Material Total Number of units 82000 82000 Cost per equivalent units 1.75 2.00 3.75 Total amount 143500 164000 307500 Reconciliation report Cost of goods transferred 307500 Add Work in proress ending Material                                      8400 Conversion cost                        3600 12000 Total cost accounted for 319500