Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All...

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Accounting

Helix Corporation produces prefabricated flooring in a series ofsteps carried out in production departments. All of the materialthat is used in the first production department is added at thebeginning of processing in that department. Data for May for thefirst production department follow: Percent Complete UnitsMaterials Conversion Work in process inventory, May 1 73,000 85 %50 % Work in process inventory, May 31 53,000 60 % 30 % Materialscost in work in process inventory, May 1 $ 57,900 Conversion costin work in process inventory, May 1 $ 17,000 Units started intoproduction 251,200 Units transferred to the next productiondepartment 271,200 Materials cost added during May $ 393,570Conversion cost added during May $ 244,261 Required:
1. Assume that the company uses the weighted-average method ofaccounting for units and costs. Determine the equivalent units forMay for the first process.
2. Compute the costs per equivalent unit for May for the firstprocess. (Round your answers to 2 decimal places.)
3. Determine the total cost of ending work in process inventoryand the total cost of units transferred to the next process in May.(Round your intermediate calculations to 2 decimal places.)

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4.3 Ratings (566 Votes)

Total costs accounted for Costs of beginning goods in process 74900 Costs incurred this period 637831 Total costs to account for 712731 Total costs accounted for 712731 Difference due to rounding costunit 0 Units to account for Beginning goods in process inventory units 73000 See Answer

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