Question
Weighted Average Method, Unit Costs, Valuing Inventories Byford Inc. produces a product that passes through two processes. During November, equivalent units were calculated using
Weighted Average Method, Unit Costs, Valuing Inventories Byford Inc. produces a product that passes through two processes. During November, equivalent units were calculated using the weighted average method: Units completed 180,000 Add: Units in EWIP X Fraction complete: (64,000 X 40%) 25,600 Equivalent units of output (weighted average) 205,600 Less: Units in BWIP X Fraction complete: (40,000 X 60%) 24,000 181,600 Equivalent units of output (FIFO) The costs that Byford had to account for during the month of November were as follows: Beginning work in process Costs added Total $115,000 1,056,920 $1,171,920 1. Using the weighted average method, determine unit cost. Round to the nearest cent per unit ansfered out? What is the cost assigned to units in ending inventory?
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