Madison Corporation's production cycle begins in the Processing Department. The following information is available for the month of April:

	units
Work in progress, April 1 (25% complete)	40.000
Total units launched in April	240.000
Work in progress, April 30 (60% complete)	25.000

In the Processing Department, materials are added at the beginning of the process. Assuming Madison uses the weighted average method, what are the equivalent units of production for the month of April?

2 Sarfina Corporation uses the FIFO method in its process costing system. The September activity data of the Foundry Department are as follows:

	units			Percent Complete by Conversion
Initiation of in-process work inventory		15.000			20	%
Transferred from previous department in September		89.000
Finalizing the in-process inventory of work		24.000			90	%

The initial conversion cost in in-process inventory was $15,660 at the beginning of September, according to the company's records. Additional conversion costs of $526,524 were incurred in the department during the month.
What would be the equivalent cost per unit for conversion costs for September? (Round to three decimal places.)

3 Bentley Enterprises uses process cost to control costs in the manufacture of Dust Sensors for the mining industry. The following information belongs to the activities for the month of November. (Adapted from CMA Exam)

	units
Work in progress, November 1		16,000
Production started in November		100,000
Work in progress, November 30		24,000

Initial inventory is 60% complete in terms of materials and 20% in terms of conversion costs. Closing inventory is 90% complete in terms of materials and 40% in terms of conversion costs.
Costs for November are as follows:
Initial inventory: direct materials, $54,560; direct labor, $20,320; manufacturing overhead, $15,240.
Monthly costs: direct materials, $468,000; direct labor, $182,880; manufacturing overhead, $391,160.
Assuming Bentley uses weighted average process cost, what are the total costs in the finished Work-in-Process Inventory?

Answer rating: 100% (QA)

1 To calculate the equivalent units of production using the weighted average method you need to consider the units that were in progress at the beginn... View the full answer