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The data for Helox Inc: Reconciling CostsWeighted Average Cost Method [LO4 CC14] (This exercise should be assigned only if Exercise 4-4 is also assigned.) Refer
The data for Helox Inc:
Reconciling CostsWeighted Average Cost Method [LO4 CC14] (This exercise should be assigned only if Exercise 4-4 is also assigned.) Refer to the data for Helox, Inc. in Exercise 4-4 and to the equivalent units and costs per equivalent unit you have computed there. Required: Complete the following cost reconciliation for the first process: Cost Reconciliation EUS Total Cost Materials Conversion Cost accounted for as follows: Transferred to the next process: (? units * $?) $? Work in process, May 31: Materials, at per EU ? Conversion, at per EU ? ? 1 ? Total work in process Total cost Quantity Schedule Units to be accounted for: Work in process, April 1 (60% materials, 75% conversion cost added last month) 20,000 Started into production 180.000 Total units 200,000 EUS Materials Conversion Units accounted for as follows: Transferred to the next process 190,000 ? Work in process, May 31 (all materials, 60% conversion cost added this month) 10,000 ? ? Total units 200,000 Costs in the beginning work-in-process inventory of the first processing department were materials, $4,000, and conversion cost, $ 14,200. Costs added during the month were materials, $56,000, and conversion cost, $360,360Step by Step Solution
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