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Accounting

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The assembly division of Quality Time Pieces, Inc, uses the weighted-average method of process costing. Consider the following data for May 2020:
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(Click the icon to view the equivalent unit computation.)
Read the requirement.
Begin by summarizing total costs to account for:
\table[[,\table[[Total],[Production Costs]],\table[[Direct],[Materials]],\table[[Conversion],[Costs]]],[Completed and transferred out,450,100,],[Work in process, ending,160,,],[Total costs to account for,610,NIII,D]]
Next, calculte cost per equivalent unit for direct materials and conversion costs.
\table[[,\table[[Direct],[Materials]],\table[[Conversion],[Costs]]],[,,]]
Finally, assign total costs to units completed (and transferred out) and to units in ending work-in-process inventory.
Total
Direct :
Conversion
\table[[,Production Costs Materials Costs],[Completed and transferred out,],[Work in process, ending,],[Total costs accounted for,]]
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