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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
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 work process inventory, September (5,500 units, 100% complete with respect to direct paterials, 70% complete with respect to conversion; consists of 577,603 of direct materials cost. 5121,030 conversion cost Costs Lecurned in September Direct materials Conversion work in process inventory, September 30 (10, 500 units, 100% complete with respect to direct neterials, 30% complete with respect to conversion) Units started in September Uoats 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. $198.630 $460,000 $371,000 36,500 31,500 Required 1 and 2 Required 31 and 4 Required 5 Required 6 The number of equivalent units for materials and conversion for the month. Equivalent Units of Production (EUP) Total Units % Materials EUP-Materials % Conversion EUP. Conversion
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