Exam 2 Practice Problems Chapter 17 Problem (worth 18 points) Refer to the following information about the Milling Department in the Blue Ribbon Flour Company for the month of May: Beginning work in process inventory: Physical units 1,500 units Percent complete for materials Percent complete for labor and overhead Materials cost from April Labor and overhead cost from April Product started: 75% 25% $2,392 $1,900 Physical units 18,300 units Ending work in process inventory: Physical units Percent complete for materials Percent complete for labor and overhead 1,800 units 80% 20% Manufacturing costs for May: Direct materials Labor and overhead $32,600 $21,050 1. Assume that the Milling Department of the Blue Ribbon Flour Company uses the weighted-average method. What is the cost of all units that were completed and transferred to finished goods in May? What is the total cost of ending work in process inventory? Physical Percent of Equivalent Units Completion Units Direct materials: Completed units Ending work in process Total equivalent units Problem continued on following page