Question
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Work
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below:
Materials | Labor | Overhead | ||||
Work in process, May 1 | $ | 27,100 | $ | 44,154 | $ | 215,019 |
Cost added during May | $ | 164,605 | $ | 29,436 | $ | 143,346 |
Equivalent units of production | 2,300 | 2,200 | 2,100 | |||
Required:
Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)
Data concerning a recent periods activity in the Prep Department, the first processing department in a company that uses process costing, appear below:
Materials | Conversion | |||||
Equivalent units in ending work in process inventory | 2,010 | 860 | ||||
Cost per equivalent unit | $ | 14.06 | $ | 4.53 | ||
A total of 21,800 units were completed and transferred to the next processing department during the period.
Required:
1. Compute the cost of ending work in process inventory for materials, conversion, and in total.
2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
(Round your final answers to the nearest whole dollar amount.)
Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,170, and the cost added to production was $25,650.
Required:
Prepare a cost reconciliation report for the Baking Department for June.
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