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 of

image text in transcribed

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 Completed and transferred to the Mixing Department Inventory, May 1 332,400 544,100 347,216 Materials Conversion Inventory, May 31 The May 1 work in process inventory consisted of 120,000 pounds with $198,000 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, 290,000 pounds were started i production. The May 31 inventory consisted of 72,000 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 Required 1 Required 2 Required 3 Required 4 Compute the Grinding Department's equivalent units of production for materials and conversion in May Conversion Materials Equivalent units of production Required 4 Required 1 Required 2 Required 3 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 Required 2 Required 3 Required 4 Required 1 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 Required 3 Required 1 Required 2 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 Total 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

Step: 3

blur-text-image

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

Principles Of Financial Auditing

Authors: Athmane Mokhbi

1st Edition

B09LGTJJFG, 979-8763532265

More Books

Students also viewed these Accounting questions

Question

What would you do if the bullies and victim were girls?

Answered: 1 week ago

Question

demonstrate the importance of induction training.

Answered: 1 week ago