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Cozy Clothing Inc, is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department.

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Cozy Clothing Inc, is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Cozy use the weighted average method of process costing. The following information for June 2015 is shown below: Work in process, beginning inventory (June 1) Degree of completion, beginning WIP Transferred in during June Completed and transferred out during June Work in process, ending inventory (June 30) Degree a completion ending WIP Total cost added during June Calculate equivalent units. Summarize total cost to account for and calculate cost per equivalent unit for transferred-in-costs, direct materials and conversion costs. Assign total costs to units completed (and transferred out) and to units in ending work in process

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