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Problem 2. Production and cost data for the month of February for Process A of the Packer manufacturing Company follow: Units in process, February 1
Problem 2. Production and cost data for the month of February for Process A of the Packer manufacturing Company follow: Units in process, February 1 (100% complete with respect to materials; 25% complete with respect to conversion cost).... New units started in process... Units completed........ Units in process, February 28 (100% complete with respect to materials; 1/3 complete with respect to conversion cost)...... 2,000 8,000 7,000 3,000 $600 $100 Work in process inventory, February 1: Materials..... Conversion.... Costs incurred in February Materials issued.. Conversion....... $2,560 $1,500 The company uses the weighted average cost method in its process costing system. a. Calculate the equivalent units and cost per equivalent unit for February for materials for conversion costs. (Carry calculations out to the nearest tenth of a cent.) b. Determine the cost transferred to finished goods. c. Determine the amount of cost that should be assigned to the ending work in process
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