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Selected data relating to the Weaving Department during May are given below: Production data: Kilograms in process, May 1 ( materials 1 0 0 %
Selected data relating to the Weaving Department during May are given below: Production data: Kilograms in process, May materials complete; conversion complete Kilograms started into production during May Kilograms completed and transferred to Coating Kilograms in process, May materials complete; conversion complete Cost data: Work in process inventory, May : Materials cost $ Conversion cost $ Cost added during May: Materials cost $ Conversion cost $ The company uses the weighted average method. Compute the equivalent units of production. Materials Conversion Equivalent units of production Compute the costs per equivalent unit for May. Round your answers to decimal places. Materials Conversion Cost per equivalent unit Determine the cost of ending work in process inventory and of the units transferred to the Coating Department. Round intermediate calculations to decimal places, and final answers to the nearest whole dollar. Materials Conversion Total Cost of ending work in process inventory Cost of units completed and transferred out Prepare a cost reconciliation between the costs determined in above and the cost of beginning inventory and costs added during the period. Round intermediate calculations to decimal places, and final answers to the nearest whole dollar. Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory $ correct answer Costs added to production during the period correct answer Total cost $ Costs accounted for as follows: Transferred to the Coating Department Work in process, May Materials Conversion Total ending Work in process Total cost
Selected data relating to the Weaving Department during May are given below:
Production data:
Kilograms in process, May materials complete; conversion complete
Kilograms started into production during May
Kilograms completed and transferred to Coating
Kilograms in process, May materials complete; conversion complete
Cost data:
Work in process inventory, May :
Materials cost $
Conversion cost $
Cost added during May:
Materials cost $
Conversion cost $
The company uses the weighted average method.
Compute the equivalent units of production.
Materials Conversion
Equivalent units of production
Compute the costs per equivalent unit for May. Round your answers to decimal places.
Materials Conversion
Cost per equivalent unit
Determine the cost of ending work in process inventory and of the units transferred to the Coating Department. Round intermediate calculations to decimal places, and final answers to the nearest whole dollar.
Materials Conversion Total
Cost of ending work in process inventory
Cost of units completed and transferred out
Prepare a cost reconciliation between the costs determined in above and the cost of beginning inventory and costs added during the period. Round intermediate calculations to decimal places, and final answers to the nearest whole dollar.
Cost Reconciliation
Costs to be accounted for:
Cost of beginning work in process inventory $ correct answer
Costs added to production during the period correct answer
Total cost $
Costs accounted for as follows:
Transferred to the Coating Department
Work in process, May
Materials
Conversion
Total ending Work in process
Total cost
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