Question: Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units

Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials Conversion 2,040 930 $ 15.16 $ 4.63 A total of 21,000 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. (Round your final answers to the nearest whole dollar amount.) Materials Conversion Total 1. Cost of ending work in process inventory 2. Cost of units transferred out Clonex Labs, Inc., uses the weighted average method in its process costing system. The following data are available for one department for October Percent Completed Units Materials Conversion 49,000 85% 55% 32,000 67% 51% Work in process, October 1 Work in process, October 31 The department started 395,000 units into production during the month and transferred 412,000 completed units to the next department Required: Compute the equivalent units of production for October Materials Conversion Equivalent units of production
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