Equivalent Units and Product Cost Report Weighted Average Method The following data (and annotations) are for Nelson Company's processing department work in process account for the month of September 2019 Beginning inventory (1,500 units, 70 complete) Direct materials $22,000 Conversion costs 10,000 Current period Direct materials (6,000 units) 50,000 Direct labor 41,000 Manufacturing overhead applied 65,440 Nelson uses the weighted average method Materials are added at the beginning of the process and conversion costs are incurred evenly throughout Ending work in process is composed of 1,000 units, 60 complete Compute the following a Equivalent units for direct materials and conversion b Cost per equivalent unit for direct materials and conversion c Total cost assigned to the units transferred out

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Question: Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for Nelson Company's processing department work-in-process account for the month of

Equivalent Units and Product Cost Report-Weighted Average Method

The following data (and annotations) are for Nelson Company's processing department work-in-process account for the month of September 2019:

Beginning inventory (1,500 units, 70% complete)
Direct materials		$22,000
Conversion costs		10,000
Current period
Direct materials (6,000 units)		50,000
Direct labor		41,000
Manufacturing overhead applied		65,440

Nelson uses the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of 1,000 units, 60% complete. Compute the following:

a. Equivalent units for direct materials and conversion.

b. Cost per equivalent unit for direct materials and conversion.

c. Total cost assigned to the units transferred out.

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