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Carver 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
Carver 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 May: Units Percentage Completed WIP, Beginning Started Into Production 88,000 402,000 100% 80% Completed and Transferred Out WIP, Ending ? 69,000 65% 30% Materials WIP, Beginning $62,480 Costs added during May $645,612 Conversion $93,280 $392,590 REQUIRED: (a) Show the Calculation to compute the Units transferred to the next department. (b) Determine the Equivalent Units for May. (c) Computer the Cost per equivalent Unit for May. SHOW ALL CALCULATIONS!!!!! (a) Beginning Units + Started Into Production - Ending Units = Units transferred to next department (b) Equivalent Units Transferred to next department (from (a)) Ending WIP Materials Conversion Equivalent Units of Production Materials Conversion (c) Cost per Equivalent Unit Materials Conversion Costs of WIP, Beginning Costs Added during the period Total Costs Equivalent Units (EU) Cost per EU ||
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