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Calculate the cost of ending work in process inventory

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Reference no: EM132984359

Airtight Limited uses the weighted-average method in its process costing system. It manufactures a sealant that goes through three processing stages prior to completion. Information on work in the first department, Mixing, is given below for September:

Production data:
Units in process, 1 September; materials 100% complete; conversion 80% complete 20,000
Units started into production during September 95,000
Units completed and transferred out ?
Units in process, 31 September; materials 70% complete; conversion 40% 10,000
Cost data:
Work in process inventory, 1 September:
Materials cost $31,000
Conversion cost $23,000

Cost added during May:
Materials cost $193,000
Conversion cost $140,500

Required:

Problem 1: Calculate the equivalent units of production for materials and conversion for September.

Problem 2: Calculate the cost per equivalent unit for materials and conversion for September.

Problem 3: Calculate the cost of ending work in process inventory in total for September.

Problem 4: What is the amount of the cost to be accounted for that would appear in the cost reconciliation report for September?

Reference no: EM132984359

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