Question
Barker Company uses the weighted average cost method under process costing. It has no beginning work in process inventory. By the end of the period,
Barker Company uses the weighted average cost method under process costing. It has no beginning work in process inventory. By the end of the period, the company has transferred 10,000 units to finished goods and kept 3,900 units in the work in process inventory. Ending WIP inventory is fully completed as to direct material cost and 80% completed in terms of conversion costs. The company has incurred $34,750 of direct materials and $66,912 of conversion costs.
Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole unit. a) Determine the equivalent units for materials and conversion costs.
Inputs | Outputs | |||||
Beginning WIP | Add Current Month | Total Production | Completed Transfer Out | Ending WIP | Total Outputs | |
Direct Materials Units | Answer | Answer | Answer | Answer | Answer | |
% Equivalent Completed | Answer% | Answer% | ||||
Conversion Equivalent Units | Answer | Answer | Answer | Answer |
b) Determine the cost per equivalent unit for direct materials and conversion costs, total cost transferred to finished goods, and total cost of ending WIP inventory. Round the Cost per Unit to 2 decimal places.
Inputs | Cost per Unit | Outputs | |||||
Beginning WIP | Add Current Month | Total Production | Completed Transfer Out | Ending WIP | Total Outputs | ||
Direct Materials Units | Answer | Answer | Answer | Answer | |||
Direct Materials Cost | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | |
Conversion Units | Answer | Answer | Answer | Answer | |||
Conversion Cost | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | |
Total Cost | $Answer | $Answer | $Answer | $Answer | $Answer |
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