Scheney Company uses the weighted-average method in its process costing system. The company's work in process inventory on March 31 consisted of 20,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the cost per equivalent unit for March was $2.50 for materials and $4.75 for labor and overhead, the total cost in the March 31 work in process inventory was:
a. $145,000
b. $116,500
c. $101,500
d. $78,500
Scheney Company uses the weighted-average method in its process costing system. The company's work in process inventory on March 31 consisted of 20,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the cost per equivalent unit for March was $2.50 for materials and $4.75 for labor and overhead, the total cost in the March 31 work in process inventory was:
| a. | $145,000 | |
| b. | $116,500 | |
| c. | $101,500 | |
| d. | $78,500 |
Related questions
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow:
| Units | Materials | Labor | Overhead | ||||
| Work in process inventory, beginning | 70,000 | $ | 61,100 | $ | 26,300 | $ | 37,500 |
| Units started in process | 669,000 | ||||||
| Units transferred out | 690,000 | ||||||
| Work in process inventory, ending | 49,000 | ||||||
| Cost added during the month | $ | 808,060 | $ | 323,805 | $ | 462,650 | |
The beginning work in process inventory was 90% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 70% complete with respect to materials and 50% complete with respect to labor and overhead.
Required:
1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month.
2. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month. (Round your answers to 2 decimal places.)
| Materials | Labor | Overhead | ||
| 1 | Equivalent units of production | |||
| 2 | Cost per equivalent unit |
