1.The following data appeared in the accounting records of Manuel Manufacturing Company, Inc., which uses theweighted average cost method.

Started in process12,000 units

Finished and transferred out10,500 units

Work in process, end of the month1,500 unit that is 40% completed

Material costs$36,000

Labor$44,400

Factory overhead$22,200

Required: Compute under the scenarios given below, the following:

i.The Equivalent Units for materials, labor and overhead for the month

ii.Compute the Cost per unit materials, labor and overhead for the month

iii.Compute the total cost of units finished and transferred out.

iv.Cost of units in process at the end of the month

Show computations:

4.

Clear Water Candy had cost per equivalent pound for the month as follows:

Materials$4.56;Labor $ 1.75 andOverhead$1.00.

During the month, 10250 lbs were completed and transferred out to finished goods inventory.There were 3,200 lbs of materials in ending work in process that were 100% complete as to materials and 60% as to labor and overhead.

At the beginning of the month, 1,500 lbs of materials were in processwhich were 100 % complete as to materials and 50% complete as to labor and overhead. The beginning inventory cost was $8,775.

Note: Clear Water uses FIFO Method of Process Costing.

Required:

a.Compute the cost of goods completed and transferred out:

B. Compute the cost of goods in ending work in process.