Reference no: EM133019925
Question - Baro Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.
Work in process, beginning:
Units in process 100
Percent complete with respect to materials 70%
Percent complete with respect to conversion 40%
Costs in the beginning inventory:
Materials P364
Conversion P1,120
Units started into production during the month 23,000
Units completed and transferred out 22,900
Costs added to production during the month:
Materials P124,160
Conversion P637,088
Working in process, ending:
Units in process 200
Percent complete with respect to materials 80%
Percent complete with respect to conversion 70%
Required - Using the weighted-average method:
A. Determine the equivalent units of production for materials and conversion costs.
B. Determine the cost per equivalent unit for materials and conversion costs.
C. Determine the cost of units transferred out of the department during the month.
D. Determine the cost of ending work in process inventory in the department.
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