Question
Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products....
Hi-Test Company uses the weighted-average method of process
costing to assign production costs to its products. Information for
the company's first production process September follows. Assume
that all materials are added at the beginning of this production
process, and that conversion costs are added uniformly throughout
the process.
|
Work in process inventory, September 1 (1,500 units, 100%
complete with respect to |
$ |
130,495 |
|
|
Costs incurred in September |
|||
|
Direct materials |
$ |
420,000 |
|
|
Conversion |
$ |
360,000 |
|
|
Work in process inventory, September 30 (6,500 units, 100%
complete with respect to direct |
? |
||
|
Units started in September |
32,500 |
||
|
Units completed and transferred out |
27,500 |
||
Required:
Compute each of the following using the weighted-average method of
process costing.
3. & 4. The cost per equivalent unit of
materials and conversion for the month.
Homework Answers
Answer #1
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