Problem - Process Costing
Butterflyght, Inc is a large producer of various products. There are currently using process costing for its product costing of product YLT789. The following information pertains to operations for the month of April
			Percentage Complete
		Units	Direct Materials	Conversion
Beginning Work in Process Inventory, April 1		19,800	60%	20%
Started in production during April		96,700
Ending Work in Process Inventory		16,500	80%	50%
Beginning Work in Process Inventory Costs:
	Material	$67,145
	Conversion	$44,773
Current Period Costs:
	Material	$793,175
	Conversion	$1,367,890
REQUIRED Using the weighted-average method, answer the following questions:
1. How many units were completed and transferred to finished goods?
2. What are the total equivalent units for each cost component?
3. What is the cost per equivalent unit for each cost component?
4. What is the cost transferred to Finished Goods Inventory?
5. What is the cost of ending WIP inventory?
6. If there was no beginning finished goods inventory for April and 91,500 units were sold in April how much is COGS?