Question
Anchor Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a
Anchor Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.
Work in process, beginning:
Units in process.........................................15,000
Costs in the beginning inventory:
Materials cost............................................$35,000
Conversion cost..........................................$25,000
Units started into production during the month......30,000
Units coompleted and transferred out...................20,000
Costs added to production during the month:
Materials cost.................................................$205,000
Conversion cost..............................................$100,800
Work in process, ending:
Units in process.............................................15,000
%of completion with respect to materials..........40%
% of completion with respect to conversion........20%
Required: prepare a process costing department production report (calculation of equivalent units, cost per equivalent unit, and cost reconciliation) for the department using the weighted-average method. Round the cost per unit to the nearest cent.
....btw can you show me how you got the answers for the cost per equivalent unit part, im having alot of problem with that, thanks!!
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