Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Weston Products manufactures an industrial cleaning compound that goes through three processing departments- Grinding, Mixing, and Cooking. All raw materials are Introduced at the start

Weston Products manufactures an industrial 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: Work in Process-Grinding Department Debit Inventory, May 1 Materials Conversion Inventory, May 31 Credit 353,850 Completed and transferred to the Mixing Department 838,050 445,760 The May 1 work in process inventory consisted of 105,000 pounds with $219,450 in materials cost and $134,400 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, 365,000 pounds were started into production. The May 31 inventory consisted of 139,000 pounds that were 100% complete with respect to materials and 60% 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. Pray Check my work 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 11 Required 2 Required 3 Required 4 Compute the Grinding Department's equivalent units of production for materials and conversion in May. Equivalent units of production Materials Conversion 470,000 83,400 Complete this question by entering your answers in the tabs below. tes 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 decimal places.) Materials Conversion Cost per equivalent unit $ 2.25 $ 6.96 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 M (Round your intermediate calculations to 2 decimal places.) Cost of ending work in process inventory Materials Conversion Total 493,763 $ 1,527,372 $ 2,021,135 Required 1 Required 2 Required 3 Recaired 4 Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion total for May. (Round your intermediate calculations to 2 decimal places.) Cost of units completed and transferred out Materials Conversion Total

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

More Books

Students also viewed these Accounting questions

Question

LO1 Discuss four different views of motivation at work.

Answered: 1 week ago

Question

LO6 Summarize various ways to manage retention.

Answered: 1 week ago