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Category > Accounting Posted 11 Aug 2017 My Price 14.00

Solex Company

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 74,000 65 %   30 %  
Work in process inventory, June 30 54,000 40 %   20 %  
               
Materials cost in work in process inventory, June 1       $ 58,800    
Conversion cost in work in process inventory, June 1       $ 17,500    
Units started into production         262,400    
Units transferred to the next process         282,400    
Materials cost added during June       $ 400,240    
Conversion cost added during June       $ 252,244    

 

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 $

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 05:08 PM My Price 14.00

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