Weighted Average method, equivalent units.

Consider the following data for the Assembly Division of Mike, INC.

	Physical Units	Direct Materials	Conversion Cost
Beginning work in process (May 1st) (Degree of completion: direct materials, 90%; conversion costs, 40%) Started in May 2015 Completed during May 2015 EWIP (May 31) (Degree of completion: direct materials, 60%; conversion costs, 30%) Total cost added during May 2015	80 500 460 120	$493,360 $3,220,000	$91,040 $1,392,000

^aDegree of completion: direct materials, 90%; conversion costs, 40%.

^bDegree of completion: direct materials, 60%; conversion costs, 30%.

Required: Respond to each item below. You must show all work for each item.

1. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.

2. Using the Weighted Average method:

A. Summarize total costs to account for

B. Calculate cost per equivalent unit for direction materials and conversion costs.

C. Assign total costs to units in completed (and transferred out).

D. Assign total costs to units in ending work in process.