Lancer Company uses the weighted-average(WA) method in its process costing system. The following data pertain to operations in the first processing department for a recent month:

Work in process, beginning:

Units in process 6,000

Percent completed with respect to materials 70%

Percent completed with respect to conversion 80%

Cost in the beginning inventory:

Material cost . $15,400

Conversion cost . $ 9,200

Units started into production during the month . ?

Units completed and transferred out during month . 50,000

Costs added to production during the month:

Materials cost $ 88, 500

Conversion cost $ 93, 000

Work in process, ending:

Units in process 8, 000

Percent completed with respect to materials. 75%

Percent completed with respect to conversion. 60%

Required:

Prepare a worksheet showing 4 steps: number of units to account for; the number of equivalent units produced; the cost per equivalent unit, and the assignment of costs.

2) Answer the following questions from the work sheet you prepared:

a) What is the number of equivalent units of direct material under FIFO?..........................

b) What is the number of equivalent units of conversion cost under weighed average?.........

c) Determine the total cost per equivalent unit (WA).

d) Determine the cost of ending inventory (WA).

e) Determine the cost of good units transferred out (WA).....

f) How much is total cost accounted for?...........................................................................

B) Determine the cost to complete BWIP under FIFO (SH0W WORK)