Determine the total cost of ending work in process

Reference no: EM13577734

Solex Company produces a high-quality insulation material that passes through two production processes. Data for June for the first process follow: Units Completion with Respect to Materials Completion with Respect to Conversion Work in process inventory, June 1 65,000 65 % 30 % Work in process inventory, June 30 45,000 40 % 20 % Materials cost in work in process inventory, June 1 $ 53,300 Conversion cost in work in process inventory, June 1 $ 15,400 Units started into production 257,000 Units transferred to the next process 277,000 Materials cost added during June $ 362,650 Conversion cost added during June $ 221,980

Required:

1. Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for June for the first process. Materials Conversion Equivalent units of production

2. Compute the costs per equivalent unit for June for the first process. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit $ $

3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in June. (Round your intermediate calculations to 2 decimal places. Round your final answer to whole dollar amount.) Total Cost of ending work in process inventory $ Cost of units transferred to the next process $

Reference no: EM13577734

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