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Please show all work 14. Baroche Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's
Please show all work
14. Baroche Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process.. 100 Percent complete with respect to materials. 70% Percent complete with respect to conversion. 40% Costs in the beginning inventory: Materials cost. $364 Conversion cost. $1,120 Units started into production during the month 23,000 Units completed and transferred out 22,900 Costs added to production during the month: Materials cost.... ............................... $124,160 Conversion cost ......... $637,088 Work in process, ending: Units in process....... 200 Percent complete with respect to materials....... 80% Percent complete with respect to conversion.............. 70% Required: (22 points) a. Determine the equivalent units of production for materials and conversion costs for the month. b. Determine the cost per equivalent unit for materials and conversion costs for the month. c. Determine the cost of units transferred out of the department for materials, conversion costs, and in total for the month. d. Using the total amount you computed in part c., prepare the journal entry to record the costs of units transferred out of the first processing department to the second processing department during the month. (For your journal entry, name the two departments Dept. #1 and Dept. #2 respectively.) e. Determine the cost of ending work in process inventory for materials, conversion costs, and in total for the monthStep by Step Solution
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