Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring...
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Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:
Percent Complete Units Materials Conversion Work in process inventory, May 1 64,000 100 % 40 % Work in process inventory, May 31 44,000 100 % 25 % Materials cost in work in process inventory, May 1 $ 52,400 Conversion cost in work in process inventory, May 1 $ 15,100 Units started into production 252,000 Units transferred to the next production department 272,000 Materials cost added during May $ 92,960 Conversion cost added during May $ 216,960
Required:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
2. Compute the first production department's cost per equivalent unit for materials and conversion for May.
Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:
| Percent Complete | ||||||
| Units | Materials | Conversion | ||||
| Work in process inventory, May 1 | 64,000 | 100 | % | 40 | % | |
| Work in process inventory, May 31 | 44,000 | 100 | % | 25 | % | |
| Materials cost in work in process inventory, May 1 | $ | 52,400 | ||||
| Conversion cost in work in process inventory, May 1 | $ | 15,100 | ||||
| Units started into production | 252,000 | |||||
| Units transferred to the next production department | 272,000 | |||||
| Materials cost added during May | $ | 92,960 | ||||
| Conversion cost added during May | $ | 216,960 | ||||
Required:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
2. Compute the first production department's cost per equivalent unit for materials and conversion for May.
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