Solution-Raw material is added at the beginning of

Raw material is added at the beginning of processing

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Problem 4-44A Alberta Instrument Company uses a process costing system. A unit of product passes through three departments- moulding, assembly, and finishing-before it is completed.

The following activity took place in the finishing department during May:

Units
Work in process inventory, May 1	2,080
Transferred in from the assembly department	14,800
Transferred out to finished goods inventory	11,700

Raw material is added at the beginning of processing in the finishing department. The work in process inventory was 70% complete in terms of conversion costs on May 1 and 40% complete in terms of conversion costs on May 31. Alberta Instrument Company uses the weighted-average method of process costing. The equivalent units and current period costs per equivalent unit of production for each cost factor are as follows for the finishing department:

Equivalent Units		Current Period Costs per Equivalent Unit
Transferred-in costs	15,250	$6.30
Raw materials	15,250	2.10
Conversion costs	13,100	4.00
Total	$12.40

The cost of units transferred to finished goods inventory during May.

The cost of the finishing department's work in process inventory on May 31. (Round answer to 0 decimal places, e.g. 5,275.)

Reference no: EM131786684

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Raw material is added at the beginning of processing

Reference no: EM131786684

Reference no: EM131786684

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