Harmon Company uses the weighted average method in its
process costing system. The Curing Department of Harmon Company reported the
following information for the month of November.
All materials are added at the beginning of the process.
Required:
TUTORIAL PREVIEW
|
|
Units
|
Percent
complete with respect to materials
|
Percentage
complete with respect to conversion
|
|
Work
in process, November 1
|
10,000
|
100%
|
80%
|
|
Units
started
|
28,000
|
|
|
|
Completed
and transferred out
|
30,000
|
|
|
|
Work
in process, November 30
|
8,000
|
100%
|
30%
|
|
|
|
|
|
|
|
|
|
|
|
Costs
for November
|
Materials
|
|
Conversion
|
|
Work in process, November 1
|
$34,500
|
|
$48,600
|
|
Added during the month
|
$146,000
|
|
$194,400
|
All materials are added at the beginning of the process.
Required:
Compute the following items using the weighted average method.
i. The equivalent units of production for materials
i. The equivalent units of production for materials
ii. The cost per equivalent unit for conversion
iii. The total cost assigned to units transferred out of the curing department during November
iv. The cost assigned to work in process inventory as of November 30
iii. The total cost assigned to units transferred out of the curing department during November
iv. The cost assigned to work in process inventory as of November 30
a.
Units transferred out 30,000
Add:
Equivalent units in ending inventory (8,000 x 100%) 8,000
Equivalent
units for materials 38,000
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