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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 20,000Units started into production during September 95,000Units completed and transferred out ?Units in process, 31 September; materials 70% complete; conversion 40% 10,000Cost data:Work in process inventory, 1 September:Materials cost $31,000Conversion cost $23,000
Cost added during May:Materials cost $193,000Conversion 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?
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