GanMaoling Corporation produces a product that passes through two departments. For May, the following equivalent unit schedule was prepared for the first department:
Costs assigned to beginning work in process:
Materials: $51,000
Conversion: $24,750
Manufacturing costs incurred during the month:
Materials: $56,250
Conversion: $45,000
Required:
a. Compute the unit cost for May using the weighted average method.
b. Determine the cost of goods transferred out.
c. Determine the cost of ending work in process.

Question

GanMaoling Corporation produces a product that passes through two departments. For May, the following equivalent unit schedule was prepared for the first department:
  Costs assigned to beginning work in process:
Materials: $51,000
Conversion: $24,750
Manufacturing costs incurred during the month:
Materials: $56,250
Conversion: $45,000
Required: 
a. Compute the unit cost for May using the weighted average method.
b. Determine the cost of goods transferred out.
c. Determine the cost of ending work in process.

Quizplus · Accepted Answer

The Answer of GanMaoling Corporation produces a product that passes through two departments. For May, the following equivalent unit schedule was prepared for the first department:
  Costs assigned to beginning work in process:
Materials: $51,000
Conversion: $24,750
Manufacturing costs incurred during the month:
Materials: $56,250
Conversion: $45,000
Required: 
a. Compute the unit cost for May using the weighted average method.
b. Determine the cost of goods transferred out.
c. Determine the cost of ending work in process.

GanMaoling Corporation Produces a Product That Passes Through Two Departments