Question

Matrix Inc. calculates the cost for an equivalent unit of production using the weighted-average method. Data...

Matrix Inc. calculates the cost for an equivalent unit of production using the weighted-average method.

Data for July:
Work-in-process inventory, July 1 (39,000 units):
Direct materials (94% completed) $ 122,700
Conversion (56% completed) 77,150
Balance in work in process inventory, July 1 $ 199,850
Units started during July 93,000
Units completed and transferred 107,400
Work-in-process inventory, July 31:
Direct materials (94% completed) 24,600
Conversion (56% completed)
Cost incurred during July:
Direct materials $ 183,000
Conversion costs 291,000


The cost of goods completed and transferred out under the weighted-average method is calculated to be: (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.)

Multiple Choice

  • a. $96,936.

  • b. $618,030.

  • c. $577,812.

  • d. $586,550.

  • e. $587,950.

Business   Accounting   
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Homework Answers

Answer #1
Materials Conversion
Units completed and transferred out 107400 107400
Work in process, ending:
24600 X 94% 23124
24600 X 56% 13776
Equivalent units of production 130524 121176
Materials Conversion
Work in process, July 1 122700 77150
Cost added during July 183000 291000
Total costs 305700 368150
Divide by Equivalent units of production 130524 121176
Cost per Equivalent unit 2.34 3.04
Materials Conversion Total
Units completed and transferred out 107400 107400
X Cost per Equivalent unit 2.34 3.04
Cost of Units completed and transferred out 251316 326496 577812
Option C $577,812 is correct
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