Reference no: EM132739274
Question - WXY produces sealing wax sticks. There are two processes: blending and moulding. After blending, the resulting product is sent to the moulding department, where it is poured into moulds and cooled. Direct materials are added at the beginning of the process, and conversion costs are incurred evenly throughout the manufacturing process. The following information relates to the blending process for October:
1. Beginning WIP, had 24,000 units (60% completed) and the following cost:
Direct Materials $116,200
Conversion Costs 99,100
2. During October, 70,000 units were completed and transferred out to the moulding department, and the following costs were added to production:
Direct Materials $339,800
Conversion Costs 370,600
3. On 31 October, there were 10,000 partially completed units in process. These units were 70% complete.
The weighted average method is used to account for the costs of production.
Required -
1. Calculate the cost per equivalent unit for direct materials and conversion costs.
2. Compute the cost of ending WIP and the cost of goods transferred out.
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