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Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per
Required:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
2. Compute the first production department's cost per equivalent unit for materials and conversion for May.
3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.
4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.
Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow Units Materials 60,000 48,880 Conversion Work in process inventory, May1 Work in process inventory, May 331 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May 100 % 100 % 50% 30 % $ 50,200 5 13,900 246,000 266,000 $ 78,320 5 200,168 Required 1 Required 2 Required 3 Required 4 Calculate the first production department's equivalent units of production for materials and conversion for May. Equivalent units of production Required 1Required 2Required 3 Required4 Compute the first production department's cost per equivalent unit for materials and conversion for May. (Round to 2 decimal places.) Cost per equivalent unit n by entering your answers in the tabs below Required 1 Required 2Required 3 Required 4 Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 dedimal places.) Cost of ending work in process inventory Required 1 Required 2 Required 3Required 4 Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Cost of units completed and transferred outStep by Step Solution
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