Weighted-Average Method to Determine Costs and Equivalent Units
Not what you're looking for?
On May 1, Dandy Company had a work-in-process inventory of 10,000 units. The units were 100% complete for material and 30% complete for conversion, with respective costs of $30,000 and $1,850.
During the month, 150,000 units were completed and transferred to finished goods. The May 31 ending work-in-process inventory consisted of 10,000 units that were 100% complete with respect to materials and 80% complete with respect to conversion.
Costs added during the month were $330,000 for materials and $503,750 for conversion.
Required:
Using the weighted-average method, calculate:
A. Total equivalent units for material and conversion.
B. The cost per equivalent unit for material and conversion.
C. The cost transferred to finished goods.
D. The cost of ending work in process.
Purchase this Solution
Solution Summary
This solution provides assistance in applying the weighted-average method to calculate the total equivalent units for material and conversion, the cost per equivalent unit for material and conversion, the cost transferred to finished goods, and the cost of ending work in process.
Purchase this Solution
Free BrainMass Quizzes
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce