Minnon, Inc., uses a weighted-average process-costing system.All materials are introduced at the beginning of production; conversion cost is incurred evenly throughout manufacturing.The following information pertains to April: The company's accountant has already computed the cost per equivalent unit, as follows: materials, $5; conversion, $14. Required: Calculate the cost of goods completed during April and the cost of the ending work-in-process inventory.

Question

Minnon, Inc., uses a weighted-average process-costing system.All materials are introduced at the beginning of production; conversion cost is incurred evenly throughout manufacturing.The following information pertains to April:  The company's accountant has already computed the cost per equivalent unit, as follows: materials, $5; conversion, $14. Required: Calculate the cost of goods completed during April and the cost of the ending work-in-process inventory.

Quizplus · Accepted Answer

The Answer of Minnon, Inc., uses a weighted-average process-costing system.All materials are introduced at the beginning of production; conversion cost is incurred evenly throughout manufacturing.The following information pertains to April:  The company's accountant has already computed the cost per equivalent unit, as follows: materials, $5; conversion, $14. Required: Calculate the cost of goods completed during April and the cost of the ending work-in-process inventory.