Superior Micro Products uses the weighted-average method in its
process costing system. During January, the Delta Assembly
Department completed its processing of 25,200 units and transferred
them to the next department. The cost of beginning work in process
inventory and the costs added during January amounted to $651,720
in total. The ending work in process inventory in January consisted
of 3,000 units, which were 60% complete with respect to materials
and 40% complete with respect to labor and overhead. The costs per
equivalent unit for the month were as follows:
|
Materials |
Labor |
Overhead |
| Cost per equivalent
unit |
$ |
12.60 |
|
$ |
4.10 |
|
$ |
7.70 |
|
|
Compute the cost of ending work in process inventory for
materials, labor, overhead, and in total for January.
|
|
|
Materials |
Labor |
Overhead |
Total |
| Cost of ending work in process
inventory |
|
|
|
|
|
Required 1
Compute the cost of the units transferred to the next department
for materials, labor, overhead, and in total for January.
|
|
|
Materials |
Labor |
Overhead |
Total |
| Cost of units completed and transferred
out |
|
|
|
|
Prepare a cost reconciliation for January.
|
|
|
Cost Reconciliation |
| Total
cost to be accounted for |
|
| Costs
accounted for as follows: |
|
|
|
|
|
|
|
| Total cost accounted for |
$0 |
|
Required 3