cost information and the weighted Average Method

Morrison company had the equivalent units schedule and cost information for its sewing department for the month of december as shown below.

Direct Materials Conversion Costs 46,000 46,000 Units completed Add: Units in ending work in process Percentage complete: 11,000 x 100% direct materials 11,000 x 40% conversion materials Egivalent units of output 11,000 4,400 57,000 50,400 Costs: $63,000 Work in process, December 1: Direct materials Conversion costs Total work in process Current costs Direct materials 14,000 $77,000 $530,000 Conversion costs 183.000 Total current costs 5718,000 Required: 1. Calculate the unit cost for December, using the weighted average method. Round final answer to the nearest cent. (NOTE: retain unrounded interim amounts for use in part 2.) per equivalent unit 2. Calculate the cost of goods transferred out, calculate the cost of EWIP, and reconcile the costs assigned with the costs to account for Using interim amounts from part 1 (unrounded amounts), compute each amount. Then round dusly final amounts to the nearest dollar. Cost of goods transferred out: Units completed Cost of EWIP