Exercise 16-12 (Algo) Weighted average: Cost per equivalent unit; costs assigned to products LO P1

Hi-T Company uses the weighted average method of process costing. Information for the companys first production process follows. All direct materials are added at the beginning of this process, and conversion costs are added uniformly throughout the process.

	Units	Direct Materials	Conversion
		Percent Complete	Percent Complete
Beginning work in process inventory	2,500	100%	70%
Completed and transferred out	23,500
Ending work in process inventory	7,500	100%	30%

Beginning work in process
Direct materials	$ 57,100
Conversion	62,125	$ 119,225
Costs added this period
Direct materials	380,000
Conversion	337,000	717,000
Total costs to account for		$ 836,225

a. Compute the equivalent units of production for both direct materials and conversion. b. Compute the cost per equivalent unit for both direct materials and conversion. c. Assign costs to the departments outputspecifically, to the units transferred out and to the units in ending work in process inventory.

Complete this question by entering your answers in the tabs below. Compute the equivalent units of production for both direct materials and conversion. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.)