Plano industries uses the weighted-average method in its, Ask an Expert

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Plano Industries uses the weighted-average method in its process costing system. The Assembly Department of Plano Industries reported the following information for the month of November. Units % complete with respect to Conversion Work in process, November 1 10,000 80% Units Started 28,000 Completed and transferred out 30,000 Work in process, November 30 8,000 30% Cost for November: Materials Conversion Work in process, November 1 $34,500 $48,600 Added during the month $146,000 $194,400 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 Assembly 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.:- M9976144

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