Example 6 Walk Through Limited uses the weighted-average method in its process costing system. The following data relate to the Operations of Department 1 of the company for a recent month. Work in process, beginning Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Units completed and transferred to department 2 Costs added to production during the month: Materials cost Conversion cost Work in process, ending: 100 70% 90% GHC182 GHC3,429 10,000 9,700 GHC27,986 GHC373,815 Units in process 400 Stage of completion with respect to materials 90% Stage of completion with respect to conversion 70% Required: Using the weighted-average method, determine the: i. ii. iii. iv. Equivalent units of production for materials and conversion costs. Cost per equivalent unit for materials and conversion costs. Cost of units transferred out of the department during the month. Cost of ending work in process inventory in the department. 47