Humphrey Manufacturing produces car parts and batteries. All direct materials are added at the beginning of production, and conversion costs are incurred evenly throughout production. The following production information is for the month of April:

Required

(a) Using the weighted average method, assign costs to production for this period.

(b) Using the FIFO method, assign costs to production for this period.

(c) Write out the journal entries for either the weighted average or FIFO methods.

Transcribed Image Text:

Units: Work in process, 31 March: 6000 units (40% complete) Units started in April: 42 000 Units completed during April: 40000 Work in process 30 April: 8000 units (25% complete) Costs in beginning WIP: Direct materials $ 7500 Conversion costs 2125 Total $ 9625 Costs added this period: Direct materials added in April Conversion costs added in April $ 70000 42 500 Total $112 500