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6. Everglades Furniture uses a process cost system to account for its chair factory. Beginning inventory in the staining department, which is the second department
6. Everglades Furniture uses a process cost system to account for its chair factory. Beginning inventory in the staining department, which is the second department (the first department is the assembly department) consisted of 5,000 units (100% complete as to material, 55% complete as to conversion) with a transferred in cost from assembly of $69,000 and costs incurred in the staining department of $24,800 materials and $44,000 conversion. 58,000 units were transferred from assembly department during the month with a cost of $120,000, and the staining department added material costs of $284,200 and $550,000 of conversion costs. The ending inventory of 6,000 chairs was 80% complete as to materials and 40% complete as to conversion. Everglades uses weighted-average costing method. Required: a. Compute total costs accountable for b. Compute the equivalent units of production for each transferred in units, materials and conversion c. Compute the cost per unit for transferred in, materials and conversion. d. Compute the cost of units transferred to finished goods. e. Compute the ending work-in-process inventory balance for those units in process in the staining department
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