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Exercise 4-11 Comprehensive Exercise; Second Production Department-Weighted-Average Method [LO4- 2, LO4-3, L04-4, L04-5) Scri
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Answer #1
Required 1 :
Materials Conversion
Units completed and transferred out 140300 140300
(+) Equivalent ending work in process [ Ending work in process units * % Completion ] 8000 6000
Equivalent units of production 148300 146300
Required 2 :
Materials Conversion
Beginning work in process cost 1517 779
(+) Cost added during June 56320 32870
Total cost 57837 33649
(/) Equivalent units of production 148300 146300
Cost per equivalent unit 0.39 0.23
Required 3 :
Materials Conversion Total
Cost of ending work in process inventory [ Equivalent ending work in process * Cost per equivalent unit ] 3120 1380 4500
Required 4 :
Materials Conversion Total
Cost of units completed and transferred out [ Units completed and transferred out * Cost per equivalent unit ] 54717 32269 86986
Required 5 :
Blending Department
Cost Reconciliation
Cost to be accounted for :
   Cost of beginning work in process inventory ( 1517 + 779 ) 2296
   Costs added to production during the period ( 56320 + 32870 ) 89190
   Total cost to be accounted for 91486
Costs accounted for as follows :
   Cost of ending work in process inventory 4500
   Cost of units completed and transferred out 86986
   Total cost accounted for 91486
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