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AL Corporation produces a product that passes through two departments. For January, the following equivalent unit schedule was prepared for the first department: Materials Conversion
AL Corporation produces a product that passes through two departments. For January, the following equivalent unit schedule was prepared for the first department:
Materials | Conversion | |
Cost | ||
Units completed | 120,000 | 120,000 |
Units in EWIP Fraction complete: | ||
Materials (10,000 100%) | 10,000 | |
Conversion (10,000 40%) |
| 4,000 |
Equivalent units of output | 130,000 | 124,000 |
Costs assigned to beginning work in process:
Materials: | $68,000 | |
Conversion: | $33,000 | |
Manufacturing costs incurred during the month:
Materials: | $75,000 | |
Conversion: | $60,000 | |
Required:
A. | Compute the unit cost for January using the weighted average method. |
B. | Determine the cost of goods transferred out. |
C. | Determine the cost of ending work in process. |
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