Whiston Corporation uses the weighted-average method in its process costing system.The following data were taken from the records of the first processing department for a recent month. Required:
a.How many units were transferred to the next department during the month?
b.What were the equivalent units of production for materials and for conversion costs for the month?
c.What were the costs per equivalent unit of production for materials and for conversion costs for the month?
d.What was the cost of the ending work in process inventory in the department at the end of the month?
e.What was the cost of the units completed and transferred to the next department during the month?

Question

Whiston Corporation uses the weighted-average method in its process costing system.The following data were taken from the records of the first processing department for a recent month.  Required:
a.How many units were transferred to the next department during the month?
b.What were the equivalent units of production for materials and for conversion costs for the month?
c.What were the costs per equivalent unit of production for materials and for conversion costs for the month?
d.What was the cost of the ending work in process inventory in the department at the end of the month?
e.What was the cost of the units completed and transferred to the next department during the month?

Quizplus · Accepted Answer

The Answer of Whiston Corporation uses the weighted-average method in its process costing system.The following data were taken from the records of the first processing department for a recent month.  Required:
a.How many units were transferred to the next department during the month?
b.What were the equivalent units of production for materials and for conversion costs for the month?
c.What were the costs per equivalent unit of production for materials and for conversion costs for the month?
d.What was the cost of the ending work in process inventory in the department at the end of the month?
e.What was the cost of the units completed and transferred to the next department during the month?

Whiston Corporation Uses the Weighted-Average Method in Its Process Costing