Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Weston Products manufactures an indlustrial cleaning compound that goes through three processing departments-Grinding, Mixing, and cooking. All raw materials are introduced at the start of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Weston Products manufactures an indlustrial cleaning compound that goes through three processing departments-Grinding, Mixing, and cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Inventory, May 1 Work in Process-Grinding Department 253,820 Completed and transferred to the Mixing Department 598,340 397,266 Materials Conversion Inventory, May 31 The May 1 work in process inventory consisted of 98.000 pounds with $147,000 in materials cost and $106,820 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion During May 351.000 pounds were started into production. The May 31 inventory consisted of 108,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion The company uses the weighted-average method in its process costing system Required: 1. Compute the Grinding Department's equivalent units of production for materials and conversion in May 2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. 3. Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May 4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion and in total for May Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's equivalent units of production for materials and conversion in May. Conversion Equivalent units of production Required 2 > Materials Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of ending work in process inventory Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Cost of units completed and transferred out

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Creative Accounting, Fraud And International Accounting Scandals

Authors: Michael J. Jones

1st Edition

0470057653, 9780470057650

More Books

Students also viewed these Accounting questions

Question

Describe ERP and how it can create efficiency within a business

Answered: 1 week ago