Question
Helix Corporation uses the weighted average method in its process costing system. It procuces prefabricated flooring in a series of steps caried out in production
Helix Corporation uses the weighted average method in its process costing system. It procuces prefabricated flooring in a series of steps caried out in production departments. All of the material that is used in the first production department is added at the beginning of processin in that department. Data for May for the first production department is added at the beginning of production deparment follow:
Percent Complete
Units Materials Conversion
Work in Porcess inventory May 1 51,000 100% 50%
Work in Process inventory May 31 31,000 100% 30%
Materials Cost in work in Process inventory May 1 $45,000
Conversion cost in work in process inventory May 1 $11,800
Units started into production 242,400
Units transferred to the next production department 262,400
Materials cost added during May $43,020
Conversion cost added during May $170,239
1. Calculate the first production deparment's equivalent units of production for materials and conversion for May
2. Compute the first production deparment's cost per equivalent unit for materials and conversion for May.
3. Compute the first production department's cost of ending work in process inventory for materials, conversion and in total for May
4. Compute the first production deparment's cost of the units transferred to the next production department for materials, conversion and in total for May
If you could please show as much clear detail about the calculations as possible:)
Thank you!
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