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Homework answers / question archive / Helax, Inc
Helax, Inc., manufactures a product that passes through two production processes. A quantity schedule for a recent month for the first process follow Quantity Schedule Units to be accounted for Work in process, May 160% materials. 75% conversion cost added last month 20,000 Started into production 180,000 ook Total units 200,000 Costs in the beginning work in process inventory of the first processing department were materials, $4,000, and conversion cost $14,200 costs added during the month were materials. 556.000, and conversion cost $360,360. Required: 1. Assume that the company uses the weighted average cost method of accounting for units and costs Determine the equivalent units for the month for the first process Quantity EU Materials Con ze Uuted for for Transferred to the rest Wore procese, Maymaterials 00N bonded this and events of production IZIVS 190.000 10.000 200 000 PHY 1 of 2 Next >
VER were materials, $4,000, and conversion cost $14,200. Costs added during the month were materials, $56,000, and conversion cost $360,360 Required: 1. Assume that the company uses the weighted average cost method of accounting for units and costs. Determine the equivalent units for the month for the first process BOOK Dua Schule Cuno PE 100,000 Units accounted for as follows: Transferred to the next process Work in process. May 31 (all materials. 80% conversion cost added this month Total units and equivalent units of production 10,000 erences 200.000 2. Compute the costs per equivalent unit for the month for the first process. (Pound your answers to 3 decimal places.) Materials Conversions Wholen Cost per equivalent un IZT
Requirement 1:
| Quantity Schedule |
Equivalent Units | ||
| Materials | Conversion | ||
| Units accounted for as follows: | |||
| Transferred to the next process | 190,000 | 190,000 | 190,000 |
| Work in process, May 31 (all materials, 60% conversion cost added this month) |
10,000 | 10,000 | 6,000 |
| Total units and equivalent units of production | 200,000 | 200,000 | 196,000 |
Requirement 2:
| Materials | Conversion | Whole Unit | |
| Cost per equivalent unit | $0.300 | $1.911 | $2.211 |
Calculations:
| Materials | Conversion | |
| Costs in the beginning work in process | $4,000 | $14,200 |
| Costs added during the month | $56,000 | $360,360 |
| Total costs | $60,000 | $374,560 |
| ÷ Total Equivalent units | 200,000 | 196,000 |
| = Cost per equivalent unit | $0.300 | $1.911 |
