Exercise 16-20 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. $155,160 Work in process inventory, September (2,000 units. 100% complete ith respect to direct materials set complete with respect to conversion consists of 558,eee of direct materials cost. 197.160 conversion cost Costs incurred in September Direct materials Conversion Work in process inventory. September 30 (7,eee units, 100% complete with respect to direct materials, 4e complete with respect to conversion) Units started in September Units completed and transferred but $429, eee $371,000 33,000 28,000 Required: Compute each of the following using the weightec-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 answers 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) Unita % Materials EUP Material Conversion EUP Conversion Total Required 3 and 4 > Work in pro materials, 40% complete with respect to conversion) Units started in September Units completed and transferred out 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 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 d Cost per Equivalent Unit of Production Direct Materials Conversion Total costs - Equivalent units of production Cost per equivalent unit of production Hi-Test Company uses the weighted average method of process costing to assign production costs to its produ company's first production process September follows. Assume that all materials are added at the beginning om process, and that conversion costs are added uniformly throughout the process. Nork in process inventory. September 1 (2.0 units, 100% complete with respect to direct materials, sex complete with respect to conversion; consists of $58,000 of direct materials cost. $97,160 conversion cost Costs incurred in September Direct materials Conversion Work in process inventory, September 10 (7.000 units, 10et complete with respect to direct materials, 40% complete with respect to conversion) Units started in September Units completed and transferred out nces 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 answers in the tabs below. Required 1 and 2 Required 3 and 4 Required 5 Required 6 The total cost of goods transferred out. (Round "Cost per EU to 2 decimal places.) EUP Cost per Coat Transferred Out EUP Total cost Direct materials Conversion Total transferred out Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, se complete with respect to conversion; consists of $58.000 af direct materials cost. $97,160 conversion cost costs incurred in September Direct tatorials Conversion Work in process inventory, September 10 (7,000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) Units started in September Units completed and transferred out 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 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 places.) EUP Cost per EUP Total cont Costs of Ending Work In Process Direct materials Conversion Total cost of ending work in process Work in pro materials, 40% complete with respect to conversion) Units started in September Units completed and transferred out 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 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 d Cost per Equivalent Unit of Production Direct Materials Conversion Total costs - Equivalent units of production Cost per equivalent unit of production Hi-Test Company uses the weighted average method of process costing to assign production costs to its produ company's first production process September follows. Assume that all materials are added at the beginning om process, and that conversion costs are added uniformly throughout the process. Nork in process inventory. September 1 (2.0 units, 100% complete with respect to direct materials, sex complete with respect to conversion; consists of $58,000 of direct materials cost. $97,160 conversion cost Costs incurred in September Direct materials Conversion Work in process inventory, September 10 (7.000 units, 10et complete with respect to direct materials, 40% complete with respect to conversion) Units started in September Units completed and transferred out nces 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 answers in the tabs below. Required 1 and 2 Required 3 and 4 Required 5 Required 6 The total cost of goods transferred out. (Round "Cost per EU to 2 decimal places.) EUP Cost per Coat Transferred Out EUP Total cost Direct materials Conversion Total transferred out Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, se complete with respect to conversion; consists of $58.000 af direct materials cost. $97,160 conversion cost costs incurred in September Direct tatorials Conversion Work in process inventory, September 10 (7,000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) Units started in September Units completed and transferred out 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 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 places.) EUP Cost per EUP Total cont Costs of Ending Work In Process Direct materials Conversion Total cost of ending work in process
