80.2K

Verified Solution

Link Copied!

Helix Corporation uses the weighted-average method of process costing. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material 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: Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May Required: For May: Units 5,000 10,000 Percent Complete Materials 100% 100% $ 1,500 $ 4,000 180,000 175,000 $ 54,000 $ 352,000 Conversion 40% 30% 1. Calculate the first production department's equivalent units of production for materials and conversion. 2. Compute the first production department's cost per equivalent unit for materials and conversion. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total.

Heix Corporation uses the weighted-average method of process costing it produces prefabricated filooring in a seties of steps cartied out in production departments. All of the material 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. Required: For May: 1. Calculate the first production department's equivalent units of production for materials and conversion. 2. Compute the first production department's cost per equivalent unit for materials and conversion 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion. and in total

Answer & Explanation Solved by verified expert

See Answer