Analytical Thinking $($Algo$)$ Second Department$-$Weighted$-$Average Method $[$LO$5-2,$ LO$5-3,$ LO$5-4]$

"I think we goofed by hiring the new assistant controller," said Ruth Scarpino, president of Provost Industries. "Just look at this report he prepared for last month for the Finishing Department. I can$$t understand it$."$

Finishing Department costs:

Work in process inventory, April $1,500$ units; materials $100\%$ complete; conversion $88\%$ complete $ $8,425*$

Costs transferred in during the month from the preceding department, $2,000$ units $18,605$

Materials cost added during the month $6,641$

Conversion costs incurred during the month $14,950$

Total departmental costs $ $48,621$

Finishing Department costs assigned to:

Units completed and transferred to finished goods, $1,900$ units at $$25\mathrm{.}59$ per unit $ $48,621$

Work in process inventory, April $30,600$ units; materials $0\%$ complete; conversion $40\%$ complete $0$

Total departmental costs assigned $ $48,621$

$*$Consists of cost transferred in$,$ $$4,270$; materials cost, $$1,985$; and conversion cost, $$2,170.$

"He's struggling to learn our system," replied Frank Harrop, the operations manager. "The problem is he's been away from process costing for a long time, and it's coming back slowly."

"It's not just the format of his report I$\text{'}$m concerned about. Look at that $$25\mathrm{.}590$ unit cost he's come up with for April. Doesn't that seem high to you?" said Ms$.$ Scarpino.

"Yes, it does seem high; but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation," replied Mr$.$ Harrop. $"$I$$ll get someone else to redo this report and then we can see what$$s going on$."$

Provost Industries manufactures a ceramic product that goes through two processing departments$-$Molding and Finishing. The company uses the weighted$-$average method of process costing.

Required:

$1-$a$.$ Calculate the equivalent units of production.

$1-$b$.$ Calculate the cost per equivalent unit.

Note: Round your answers to $2$ decimal places.

$1-$c$.$ How much cost should have been assigned to the ending work in process inventory?

Note: Round your intermediate calculations to $2$ decimal places.

$1-$d$.$ How much cost should have been assigned to the units completed and transferred to finished goods?

Note: Round your intermediate calculations to $2$ decimal places. Transferred

In Costs Materials Conversion Total

$1-$a$.$ Equivalent units of production

$1-$b$.$ Cost per equivalent unit

$1-$c$.$ Cost of ending work in process inventory

$1-$d$.$ Cost of units completed and transferred out