Reference no: EM133006192
Question - Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:
Percent Complete Units Materials Conversion
Work in process inventory, May 178,000 100% 50%
Work in process inventory, May 3158,000 100% 30%
Materials cost in work in process inventory, May 1 $61,200
Conversion cost in work in process inventory, May 1 $18,100
Units started into production 253,200
Units transferred to the next production department 273,200
Materials cost added during May $137,520
Conversion cost added during May $260,876
Required -
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
2. Compute the first production department's cost per equivalent unit for materials and conversion for May.
3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.
4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.
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