Response to the following problem:
Barsoux Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.
| Work in process, beginning: |
|
|
| Units in process |
|
1,300 |
| Percent complete with respect to materials |
|
70% |
| Percent complete with respect to conversion |
|
80% |
| Costs in the beginning inventory: |
|
|
| Materials cost |
$ |
2,650 |
| Conversion cost |
$ |
6,736 |
| Units started into production during the month |
|
35,000 |
| Units completed and transferred out |
|
34,300 |
| Costs added to production during the month: |
|
|
| Materials cost |
$ |
563,405 |
| Conversion cost |
$ |
472,606 |
| Work in process, ending: |
|
|
| Units in process |
|
2,000 |
| Percent complete with respect to materials |
|
50% |
| Percent complete with respect to conversion |
|
20% |
Required:
Using the weighted-average method:
a. Determine the equivalent units of production for materials and conversion costs. (Carry calculations out to the nearest tenth of a cent.)
b. Determine the cost per equivalent unit for materials and conversion costs. (Round your answers to 2 decimal places.)
c. Determine the cost of units transferred out of the department during the month. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.)
d. Determine the cost of ending work in process inventory in the department. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.)