Reference no: EM132316532

Question

1) Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Alpha started into production 10,000 units. At the end of the month there were 5,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 60% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

Direct Material       $20,000

Direct Labor          8,000

Factory Overhead  32,000

Alpha uses the weighted-average process costing method. Use this information to determine for the month of March: (Round & enter final answers to the nearest penny.)

1. the cost per equivalent unit of direct material

2. the cost per equivalent unit of conversion

3. the cost per unit transferred to finished goods

2) Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Alpha started into production 10,000 units. At the end of the month there were 5,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 40% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

Direct Material     $20,000

Direct Labor         9,000

Factory Overhead 40,000

Alpha uses the weighted-average process costing method. Use this information to determine for the month of March: (Round & enter final answers to the nearest whole dollar.)

1. the total cost transferred to the finished goods inventory

2. the total cost of the ending Work in Process inventory

3) October 1, 2017, Alpha Company started a new production operation using the weighted average method of process costing. During October, 9,000 units were started and 7,000 were transferred to finished goods. The October 31, work in process inventory was 100% complete a as to material costs and 40% complete a as to conversion costs. Material costs for the month of October were $27,000 and conversion costs were $46,800. Use this information to determine: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

1. the total costs transferred to finished goods inventory for October 2017

2. the cost that should be assigned to Alpha' work in process inventory at the end of October 2017