Exercise 4-8 Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted-Average Method [LO4-2, LO4-3, LO4-4]

Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:

		Percent Complete
	Units	Materials			Conversion
Work in process inventory, May 1	80,000	100	%		30	%
Work in process inventory, May 31	60,000	100	%		20	%
Materials cost in work in process inventory, May 1				$	62,400
Conversion cost in work in process inventory, May 1				$	19,000
Units started into production					266,000
Units transferred to the next production department					286,000
Materials cost added during May				$	152,120
Conversion cost added during May				$	273,040

Required:

1. Calculate the first production department's equivalent units of production for materials and conversion for May.

2. Compute the first production department's cost per equivalent unit for materials and conversion for May.

3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.

4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

Calculate the first production department's equivalent units of production for materials and conversion for May.

	Materials	Conversion
Equivalent units of production

Compute the first production department's cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.)

	Materials	Conversion
Cost per equivalent unit

Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)

	Materials	Conversion	Total
Cost of ending work in process inventory

Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)

	Materials	Conversion	Total
Cost of units completed and transferred out