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: