Question: Problem 6-10 Equivalent Units, Cost per Equivalent Unit, Assigning Costs-Weighted-Average Method [LO2, LO3, LO4, LO5] CloverSweet Inc. manufactures a product that goes through two departments
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Problem 6-10 Equivalent Units, Cost per Equivalent Unit, Assigning Costs-Weighted-Average Method [LO2, LO3, LO4, LO5] 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: Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the first process. The WireOne Company manufactures high-quality coated electrical wire in two deportments, Weaving and Coating. Materials are introduced at various points during work in the Weaving Department. After the weaving is completed, the materials are transferred in the Coating Department, where specialty plastic coating is applied. Selected data relating to the Weaving Department during May are given below. The company uses the weighted-average method. Required: Required: 1. Compute the equivalent units of production. 2. Compute the costs per equivalent unit for May. (Round your answers to 2 decimal places.) 3. Determine the cost of ending work in process inventory and of the units transferred to the Coating Deportment. (Round intermediate calculations to 2 decimal places, and final answers to the nearest whole dollar.) 4. Prepare a cost reconciliation between the costs determined in (3) above and the cost of beginning inventory and costs added during the period. (Round intermediate calculations to 2 decimal places, and final answers to the nearest whole dollar.)
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