Harmon Company uses the weighted average method in its processcosting system. The Curing Department of Harmon Company reportedthe following information for the month of November
Work in process, beginning
Units in process, November 1
10,000
Stage of completion with respect toconversion
80%
Costs in the beginninginventory:
Materials cost
$34,500
Conversion costs
$48,600
Units started into production during the month
28,000
Units completed and transferred out
30,000
Costs added to production during the month:
Materials cost
$146,000.
Conversion cost
$194,400
Work in process, ending:
Units in process, November 30
8,000
State of completion with respect toconversion
30%
ALL MATERIALS ARE ADDED AT THE BEGINNING OF THEPROCESS
Required:
Complete the sections below.
Determine equivalent units of production
Equivalent Units
Materials
Conversion
Transferred to next department
Ending Work in Process:
Materials
Conversion
Equivalent Units of Production
Compute the costs per equivalent unit
Equivalent Units
Materials
Conversion
Cost of beginning work in process
Cost added during the period
Total Cost
Equivalent units of production
Cost per equivalent unit
Determine the total cost of ending work in process inventory andthe total cost of units transferred to the next process
Materials
Conversion
Total
Ending work in process inventory:
Equivalent units of production
Cost per equivalent unit
Cost of ending work in process inventory
Units completed and transferred out:
Units transferred to next department
Cost per equivalent unit
Costs of units completed & transferred out
Prepare a report that reconciles the total costs assigned to theending work in process inventory and the units transferred out withthe costs in beginning inventory and costs added during theperiod
Costs to be accounted for:
Cost of beginning work in process inventory
Costs added to production during the period
Total cost to be accounted for:
Costs accounted for as follows:
Cost of ending work in process inventory
Cost of units completed and transferred out
Total cost accounted for
Harmon Company uses the weighted average method in its processcosting system. The Curing Department of Harmon Company reportedthe following information for the month of November
Work in process, beginning | |
Units in process, November 1 | 10,000 |
Stage of completion with respect toconversion | 80% |
Costs in the beginninginventory: | |
Materials cost | $34,500 |
Conversion costs | $48,600 |
Units started into production during the month | 28,000 |
Units completed and transferred out | 30,000 |
Costs added to production during the month: | |
Materials cost | $146,000. |
Conversion cost | $194,400 |
Work in process, ending: | |
Units in process, November 30 | 8,000 |
State of completion with respect toconversion | 30% |
ALL MATERIALS ARE ADDED AT THE BEGINNING OF THEPROCESS
Required:
Complete the sections below.
Determine equivalent units of production
Equivalent Units
Materials | Conversion | |
Transferred to next department | ||
Ending Work in Process: Materials Conversion | ||
Equivalent Units of Production |
Compute the costs per equivalent unit
Equivalent Units
Materials | Conversion | |
Cost of beginning work in process | ||
Cost added during the period | ||
Total Cost | ||
Equivalent units of production | ||
Cost per equivalent unit |
Determine the total cost of ending work in process inventory andthe total cost of units transferred to the next process
Materials | Conversion | Total | |
Ending work in process inventory: Equivalent units of production Cost per equivalent unit Cost of ending work in process inventory | |||
Units completed and transferred out: Units transferred to next department Cost per equivalent unit Costs of units completed & transferred out |
Prepare a report that reconciles the total costs assigned to theending work in process inventory and the units transferred out withthe costs in beginning inventory and costs added during theperiod
Costs to be accounted for: Cost of beginning work in process inventory Costs added to production during the period Total cost to be accounted for: | |
Costs accounted for as follows: Cost of ending work in process inventory Cost of units completed and transferred out Total cost accounted for |