500,000 Costs added during the year : Materials $ 650,000 Conversion $ 997,500 Units completed during the year 450,000
The company uses the weighted-average cost method in its process costing system . The ending inventory is 50 % complete with respect to conversion costs .
Required :
i . Compute the equivalent units of production and the cost per equivalent units for materials and for conversion costs .
ii . Determine the cost transferred to finished goods .
iii . Determine the amount of cost that should be assigned to the ending work in process inventory .
4 . Question :
( TCO F ) Weisinger Corporation has provided the following data for the month of January :