Overline Merge Cell CLICK HERE TO SAVE YOUR WORK A B 1 D E F G H - 2 Process Costing - Weighted Average Method (26 marks) 3 4 5 6 Juice & Fruit Company uses a Weighted Average process costing system. Conversion costs incur evenly throughout the process. Direct Materials are added at the beginning of the process. Inspection occurs when production is 75% complete. 8 Normal spoilage is 4% of good units completed. 9 10 The following is additional information for the month of January 2018: 11 12 13 Beginning WIP (30% complete) 14 Started in January 15 Completed in January 16 Ending WIP (60% complete) 17 Physical units 20,000 210,000 196,000 24,000 18 Costs $65,000 $73,000 19 Beginning work in process costs 20 Direct materials 21 Conversion costs 22 Costs incurred during January 23 Direct materials 24 Conversion costs 25 26 Required: 27 $869,400 $2,373,280 Question Answer Sheet3 New. CLICK HERE TO SAVE YOUR WORK B D E F G H 26 Required: 27 28 1. Calculate the equivalent units for January using the Weighted Average method including the physical units reconciliation (10 marks). 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 2. Calculate the cost per equivalent unit for January using the Weighted Average method. (3 marks) 49 50 Question Answer Sheet3 New