Question: QUESTION 5-WEIGHTED-AVERAGE METHOD PROCESS COSTING-17 MARKS Mason Mouldings Inc. is a manufacturer of high-end, faux cement mouldings for the construction industry. The following information

QUESTION 5-WEIGHTED-AVERAGE METHOD PROCESS COSTING-17 MARKS Mason Mouldings Inc. is a manufacturer of high-end, faux cement mouldings for the construction industry. The following information

QUESTION 5-WEIGHTED-AVERAGE METHOD PROCESS COSTING-17 MARKS Mason Mouldings Inc. is a manufacturer of high-end, faux cement mouldings for the construction industry. The following information was available for production in October for the Molding Department: Beginning WIP Units started in month Completed and transferred out Ending WIP Costs Units Material % Complete Conversion % Complete 1,355 30% 20% 10,488 10,917 926 60% 40% Material 16,544 $ Conversion 12,099 784,922 Beginning WIP Added during month 839,454 $ The Molding Department (MD) transfers molds to the Finishing Department (FD). The CFO requires the use of the weighted-average method for the Company. She has asked you to prepare the costing data for the October month-end. Round Equivalent Units of Production to whole units (no decimal places). All costs should be rounded to two decimal places. Required: Compute the following for the Molding Department: a) Calculate the equivalent units of production. (3 Marks) b) Calculate the cost per equivalent unit. (3 Marks)

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