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 September follows. Assume that all materials are added at the beginning of its production process, and that conversion costs are added uniformly throughout the process. $140.540 30.000 Work in process inventory. September 1 (4.000 units, 100complete with respect to direct materials, OK complete with respect to direct labor and overhead; Includes $42.500 of direct materials cost, $46,600 in direct labor cost $51.440 overhead cost) Units started in September Units completed and transferred to finished goods Inventory Work in process inventory, September 30 (7 units, 100complete with respect to direct materials, complete with respect to direct labor and overhead) Costs incurred in September Direct materials Conversion 5445.00 369.000 Required: Compute each of the following, assuming Hi-Test uses the weighted average method of process costing. (Round "Cost per EUP" to 2 decimal places.) 1. The number of physical units that were transferred out and the number that are in ending work in process inventory 283. The number of equivalent units for materials and conversion for the month 4&5. The cost per equivalent unit of materials and conversion for the month 6. The total cost of goods transferred out. 7. The total cost of ending work in process inventory. Complete this question by entering your answers in the tabs below. Required 1 Required 2 and 3 Required 4 and 5 Required 6 Required 7 The number of physical units that were transferred out and the number that are in ending work in process inventory. Units Reconciliation Units to account for Total units accounted for Total units accounted for Che 7. The total cost of ending work in process inventory Complete this question by entering your answers in the tabs below. Required 1 Required 2 and 3 Required 4 and 5 Required 6 Required 7 The number of equivalent units for materials and conversion for the month. Equivalent Units of Production (EUP) Units % Materials EUP-Materials % Conversion EUP Conversion Equivalent units of production (Required 1 Required 4 and 5 > Check my w 7. The total cost of ending work in process inventory Complete this question by entering your answers in the tabs below. Required: Required 2 and 3 Required 4 and 5 Required 6 Required 7 The cost per equivalent unit of materials and conversion for the month. Cost per Equivalent Unit of Production Direct Materials Conversion Total costs - Equivalent units of production Cost per equivalent unit of production Check my 7. The total cost of ending work in process inventory Complete this question by entering your answers in the tabs below. Required 1 Required 2 and 3 Required 4 and 5 Required 6 Required 7 The total cost of goods transferred out. EUP Cost per EUP Total cost Costs Transferred Out Direct materials Conversion Total transferred out (Required 4 and 5 Required 7 > Check 7. The total cost of ending work in process inventory Complete this question by entering your answers in the tabs below. Required 1 Required 2 and 3 Required 4 and 5 Required 6 Required 7 The total cost of ending work in process inventory. EUP Cost per EUP Total cost Costs of Ending Work in Process Direct materials Conversion Total cost of ending work in process
