Production and cost data for the month of February for Process A of the Packer manufacturing Company follow:
|
|
Units in process, February 1
(100% complete with respect to materials, 25% complete with respect to conversion cost) |
|
4200 |
| New units started in process |
|
9100 |
| Units completed |
|
7,000 |
Units in process, February 28
(100% complete with respect to materials, 1/3 complete with respect to conversion cost) |
|
6300 |
|
|
|
| Work in process inventory, February 1: |
|
|
| Materials |
$ |
710 |
| Conversion |
$ |
210 |
| Costs incurred in February: |
|
|
| Materials issued |
$ |
4078 |
| Conversion |
$ |
1610 |
|
|
The company uses the weighted-average cost method in its process costing system.
|
| a. |
Calculate the equivalent units and cost per equivalent unit for February for materials and for conversion costs. (Do not round intermediate calculations. Round your cost per equivalent unit answers to 3 decimal places. Omit the "$" sign in your response.)
|
| b. |
Determine the cost transferred to finished goods. (Do not round intermediate calculations. Round your cost per equivalent unit answers to 3 decimal places. Omit the "$" sign in your response.)
|
| c. |
Determine the amount of cost that should be assigned to the ending work in process. (Do not round intermediate calculations. Round your cost per equivalent unit answers to 3 decimal places. Omit the "$" sign in your response.)
|