Associates, Inc. uses the weighted-average method in its process costing system. The following data relates to the proc

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Associates, Inc. uses the weighted-average method in its processcosting system. The following data relates to the processoperations of the company for a recent month:
Beginning Work in Process Inventory:
Units inProcess.................................................500
% complete with respect to directmaterials.....80%
% complete with respect to conversioncosts...70%
Ending Work in Process Inventory:
Units inProcess.................................................500
% complete with respect to directmaterials.....80%
% complete with respect to conversioncosts...20%
Units started into production during the current month: 12,000
Units completed and transferred to finished goods: 12,000
Costs in the beginning Work in Process Inventory:
Direct materials costs $ 1,340
Conversion costs $ 8,475
Costs added to production during the current month:
Direct materials costs $ 65,000
Conversion costs $412,000
Total costs (beginning WIP Inv. pluscurrent month) $486,815
Required:
1. Compute equivalent units of production for (a) directmaterials and (b) conversion costs.
2. Compute cost per equivalent unit for (a) directmaterials and (b) conversion costs.
3. Compute the total cost to be assigned to the units thatwere completed and transferred to finished goods.
4. Compute the total cost to be assigned to the incompleteunits in the ending Work in Process Inventory.
(This problem is worth a total of 20 points.)
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