Question: Problem 6 - 1 0 ( Algo ) Equivalent Units, Cost per Equivalent Unit, Assigning Costs Weighted - Average Method [ LO 2 , LO

Problem 6-10(Algo) Equivalent Units, Cost per Equivalent Unit, Assigning CostsWeighted-Average Method [LO2, LO3, LO4, LO5]??Coststodeaccountedtor:?Costofbeginningworkinprocessinventory?Costsaddedtoproductionduringtheperiod?Totalcosttobeaccountedfor?Costsaccountedforasfollows:?Transferredtonextdepartment:?WorkinprocessJune30?Materials?Conversion?Totalcostaccountedfor?
CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the table below is available about work in the first department, the Mixing Department, during June:
Percent Complete
Units Materials Conversion
Work in process, beginning 51,50075%30%
Started into production 445,000
Completed and transferred out 395,000
Work in process, ending 101,50060%40%
Materials Conversion
Work in process, beginning $ 47,000 $ 26,500
Cost added during June $ 427,000 $ 146,500
Required:
Assume that the company uses the weighted-average method.
Determine the equivalent units for June for the first process.
Compute the costs per equivalent unit for June for the first process.
Note: Round your answers to 3 decimal places.
Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in June.
Note: Round intermediate calculations to 3 decimal places.
Prepare a report that reconciles the total costs assigned to the ending work in process inventory and the units transferred out with the costs in beginning inventory and costs added during the period.
Note: Round intermediate calculations to 3 decimal places.
Can you please explain this in detail? I did not do well on my last assignment, so I am struggling with understanding the material.
Problem 6 - 1 0 ( Algo ) Equivalent Units, Cost

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