Question: Ahmadi Corporation uses the weighted-average method in its process costing system. The following data were taken from the records of the first processing department for

Ahmadi Corporation uses the weighted-average method in its process costing system. The following data were taken from the records of the first processing department for a recent month.

Work in process, beginning:

Units in process

50

Percent complete with respect to materials

60%

Percent complete with respect to conversion

50%

Costs in the beginning inventory:

Materials cost

$6,210

Conversion cost

$16,310

Units started into production during the month

200

Costs added to production during the month:

Materials cost

$42,400

Conversion cost

$136,350

Work in process, ending:

Units in process

40

Percent complete with respect to materials

60%

Percent complete with respect to conversion

50%

Cost per equivalent unit:

Material

$236

Conversion

$730

Required:

Enter the missing numbers, rounded to the nearest whole number.

a.What was the cost of the ending work in process inventory in the department at the end of the month?

Materials

Conversion

Total

Ending work in process inventory:

Equivalent units of production

Cost per equivalent unit

Cost of ending work in process inventory

b. What was the cost of the units completed and transferred to the next department during the month?

Materials

Conversion

Total

Units completed and transferred out:

Units transferred to the next department

Cost per equivalent unit

Cost of units completed and transferred out

c.What are the costs to be accounted for?

Costs to be accounted for:

Cost of beginning work in process inventory

Costs added to production during the month

Total cost to be accounted for

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!