- Weston Products Manufactures An Industrial Cleaning Compound That Goes Through Three Processing Departments Grinding Mi 1 (86.07 KiB) Viewed 54 times
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: Debit Inventory, May 1 Work in Process-Grinding Department Materials Conversion Inventory, May 31 Credit 296,010 Completed and transferred to the Mixing Department 545,190 354,120 ? ? The May 1 work in process inventory consisted of 117,000 pounds with $169,650 in materials cost and $126,360 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, 327,000 pounds were started into production. The May 31 inventory consisted of 109,000 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. 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 Equivalent units of production Required 4 Compute the Grinding Department's equivalent units of production fo Materials Conversion
Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Cost per equivalent unit Materials Conversion
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 Cost of ending work in process inventory Conversion Total
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.) Cost of units completed and transferred out Materials Conversion Total