Plano Industries uses the weighted-average method in its process costing system. The Assembly Department of Plano Industries reported the following information for the month of November. Units % complete with respect to ConversionWork in process, November 1 10,000 80%Units Started 28,000Completed and transferred out 30,000Work in process, November 30 8,000 30%Cost for November: Materials ConversionWork in process, November 1 $34,500 $48,600Added during the month $146,000 $194,400All materials are added at the beginning of the process.Required:Compute the following items using the weighted-average method:a. The equivalent units of production for materials.b. The cost per equivalent unit for conversion.c. The total cost assigned to units transferred out of the Assembly Department during November.d. The cost assigned to work in process inventory as of November 30.
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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 | 30000 | 30000 |
| Ending Work in Process: Materials Conversion | 8000 | 2400 |
Equivalent Units of Production | 38000 | 32400 |
Compute the costs per equivalent unit
Equivalent Units
Materials | Conversion | |
Cost of beginning work in process | 34500 | 48600 |
Cost added during the period | 146000 | 194400 |
Total Cost | 180500 | 243000 |
Equivalent units of production | 38000 | 32400 |
Cost per equivalent unit | 4.75 | 7.50 |
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 |
I put my answers for part 1 and 2 please answers part 3and 4. Put your answers in the table please.
