Banerjee Inc. uses the weighted-average method in its process costing system

Banerjee Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.

Work in process, beginning:
Units in process 200
Stage of completion with respect to materials 60%
Stage of completion with respect to conversion 20%
Costs in the beginning inventory:
Materials $756
Conversion $1,508

Units started into production during the month 18,000
Units completed and transferred out 17,700

Costs added to production during the month:
Materials $116,569
Conversion $675,432

Work in process, ending:
Units in process 500
Stage of completion with respect to materials 70%
Stage of completion with respect to conversion 80%

Required:
Using the weighted-average method:

a. Determine the equivalent units of production for materials and conversion costs.
b. Determine the cost per equivalent unit for materials and conversion costs.
c. Determine the cost of units transferred out of the department during the month.
d. Determine the cost of ending work in process inventory in the department.

Click here for the solution: Banerjee Inc. uses the weighted-average method in its process costing system

Maverick Corporation uses the weighted-average method in its process costing system

Maverick Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.

Work in process, beginning:
Units in beginning work-in-process inventory 400
Materials costs $6,900
Conversion costs $2,500
Percent complete for materials 80%
Percent complete for conversion 15%
Units started into production during the month 6,000
Units transferred to the next department during the month 5,600
Materials costs added during the month $112,500
Conversion costs added during the month $210,300
Ending work in process:
Units in ending work-in-process inventory 800
Percentage complete for materials 70%
Percentage complete for conversion 30%

Required: Calculate the equivalent units for materials for the month in the first processing department.

Click here for the solution: Maverick Corporation uses the weighted-average method in its process costing system