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Sierra Co. has provided the following information: Work in Process: Feb 1 25,500 units (100% complete for materials, 60% complete for conversion) Materials $ 36,200
Sierra Co. has provided the following information:
Work in Process: Feb 1 | 25,500 | units | |
(100% complete for materials, 60% complete for conversion) | |||
Materials | $ | 36,200 | |
Conversion | $ | 7,400 | |
Units started | 80,500 | units | |
February costs | |||
Materials | $ | 139,000 | |
Conversion | $ | 240,000 | |
Work in Process: Feb 28 | 16,800 | units | |
(100% complete for materials, 20% complete for conversion) | |||
Using the weighted average method of process costing, complete each of the following:
a. How many units were completed and transferred to Finished Goods? Units completed and transferred b. Calculate equivalent units. Materials Conversion Equivalent Units c. Calculate the cost per equivalent unit. (Round your Intermediate calculations and final answers to 4 decimal places.) Direct Materials Conversion Cost per Equivalent Unit d. What is the dollar amount transferred to Finished Goods? (Round your intermediate calculations to 4 decimal places and final answer to the nearest whole dollar amount.) Transferred to Finished Goods e. Calculate the cost of the ending Work In Process. (Round your Intermediate calculations to 4 decimal places and final answer to the nearest whole dollar amount.) Ending Work in ProcessStep by Step Solution
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