Harmon company uses the weighted-average method in its, Ask an Expert

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Harmon Company uses the weighted-average method in its process costing system. The Curing Department of Harmon Company reported the following information for the month of November.

Units % Complete w/respect to Conversion
Work in process, Nov 1....... 10000 80%
Units Started................... 28000
Completed and transf. out... 30000
Work in process, Nov. 30.... 8000 30%

Costs for Novermber: Materials Conversion
work in process, Nov 1.... 34500 48600
Added during the month... 146000 194400

All materials are added at the beginning of the process.
Required:
Compute the following items using the weighted-average method:
a. The equivalent units of production for materials.
b. The cost per equivalent unit for conversion.
c. The total cost assigned to units transferred out of the Curing Department during November.
d. The cost assigned to work in process inventory as of November 30.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976372

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