Process Costing at General Motors

• Values:

• Beginning Work in Process Inventory: $100,000
• Total Manufacturing Costs: $500,000
• Ending Work in Process Inventory: $50,000
• Units Completed and Transferred Out: 10,000 units
• Requirements:

0. Calculate the cost per equivalent unit using the weighted average method for General Motors.
1. Compute the cost of goods manufactured.
2. Discuss the differences between process costing and job costing.
3. Recommend ways to streamline the process costing system at General Motors.