Check my work Exercise 20-20 Weighted average: Process cost summary LO C3 Hi-Test Company uses the weighted average method of process costing to assign production costs to its products Information for the company's first production process September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process $130,495 5420,000 $360,000 Work in process inventory, September 1 (1,500 units, 100% complete with respect to direct materials, 70% complete with respect to direct labor and overhead; consists of $45,500 of direct materials cost, $84,695 conversion cost Costs incurred in September Direct materials Conversion Work in process inventory, September 30 (6,500 units, 100% complete with respect to direct materials, 30% complete with respect to conversion) Units started in September Units completed and transferred to finished goods Inventory 22.500 27. Sed Required: Compute each of the following using the weighted average method of process costing, 1. & 2. The number of equivalent units for materials and conversion for the month 3. & 4. The cost per equivalent unit of materials and conversion for the month 5. The total cost of goods transferred out. 6. The total cost of ending work in process inventory Required: Compute each of the following using the weighted-average method of process costing 1. & 2. The number of equivalent units for materials and conversion for the month. 3. & 4. The cost per equivalent unit of materials and conversion for the month. 5. The total cost of goods transferred out. 6. The total cost of ending work in process inventory. Complete this question by entering your answe wers in the tabs below. Required 1 and 2 Required 3 and 4 Required 5 Required 6 The number of equivalent units for materials and conversion for the month. Equivalent Units of Production (EUP) Units % Materials EUP-Materials % Conversion EUP Conversion Total Required 3 and 4 > 3. & 4. The cost per equivalent unit of materials and conversion for the month. 5. The total cost of goods transferred out. 6. The total cost of ending work in process inventory Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 and 4 Required 5 Required 6 The cost per equivalent unit of materials and conversion for the month. (Round "Cost per Eup to 2 decimal places) Direct Materials Conversion Cost per Equivalent Unit of Production Total costs - Equivalent units of production Cost per equivalent unit of production Required 5 > 3. & 4. The cost per equivalent unit of materials and conversion for the month. 5. The total cost of goods transferred out. 6. The total cost of ending work in process inventory. Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 and 4 Required 5 Required 6 The total cost of ending work in process inventory. (Round "Cost per EUP" to 2 decimal place Cost per EUP Total cost EUP Costs of Ending Work in Process Direct materials Conversion Total cost of ending work in process
