Question

Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All...

Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:

    

Percent Complete
Units Materials Conversion
  Work in process inventory, May 1 63,000 85 % 50 %
  Work in process inventory, May 31 43,000 60 % 30 %
  
  Materials cost in work in process inventory, May 1 $ 51,800
  Conversion cost in work in process inventory, May 1 $ 14,700
  Units started into production 247,200
  Units transferred to the next production department 267,200
  Materials cost added during May $ 352,540
  Conversion cost added during May $ 212,181

    

Required:
1.

Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for May for the first process.

    

   

2.

Compute the costs per equivalent unit for May for the first process. (Round your answers to 2 decimal places.)

    

   

3.

Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May. (Round your intermediate calculations to 2 decimal places.)

    
Business   Accounting   
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Homework Answers

Answer #1

1) Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for May for the first process.

Equivalent unit of material = 267200+(43000*60%) = 293000

Equivalent unit of conversion = 267200+(43000*30%) = 280100

2) Compute the costs per equivalent unit for May for the first process. (Round your answers to 2 decimal places.)

Cost per equivalent unit of material = (51800+352540)/293000 = 1.38

Cost per equivalent unit of conversion = (14700+212181)/280100 = 0.81

3) Cost of unit transferred out = (1.38+0.81)*267200 = 585168

Cost of ending work in process = (25800*1.38+12900*.81) = 46053

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