Question: Answer as soon as possible. Cooper Co. utilizes process costing in its manufacturing company for a product that passes through two departments. Data relating to

Answer as soon as possible.

Cooper Co. utilizes process costing in its manufacturing company for a product that passes through two departments. Data relating to the product processed in Department 2, during April are presented as follows:

Physical Units

Direct Material Costs

Conversion Costs

Work in Process, beginning

3,000

$135,240

$200,000

Started into Processing

12,000

$552,000

$849,400

The units in beginning work in progress were 80% complete with respect to direct materials and 30% complete with respect to conversion costs.

The company had 2,000 units on hand at the end of the period which were 40% complete as to materials and 10% complete as to conversion costs.

Required:

1. Prepare a quantity schedule and a computation of equivalent units, according to the weighted average cost method.

2. Compute the costs per equivalent unit, using the weighted average cost method.

3. Using the data from Requirements (1) and (2), prepare a cost reconciliation, using the weighted average cost method.

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