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HI-T Company uses the weighted average method of process costing. Information for the company's first production process follows. All direct materials are added at
HI-T Company uses the weighted average method of process costing. Information for the company's first production process follows. All direct materials are added at the beginning of this process, and conversion costs are added uniformly throughout the process. Beginning work in process inventory Completed and transferred out Ending work in process inventory Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Direct Materials Conversion Units 6,000 27,000 11,000 Percent Complete 100x Percent Complete 80% 100x 40% $ 60,000 78,460 $ 138,460 415,000 358,000 Total costs to account for 773.000 3911,468 a. Compute the equivalent units of production for both direct materials and conversion b. Compute the cost per equivalent unit for both direct materials and conversion c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process Inventory Complete this question by entering your answers in the tabs below. Required A Required Required C Compute the equivalent units of production for both direct materials and conversion. Equivalent Units of Production Weighted average Units Direct Materials Conversion Percent Complete EUP Persent Complete EUP Required B
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