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Question - On May 1, the Dandy Company had a work-in-process inventory of 10,000 units. The units were 100% complete for material and 30% complete for conversion, with respective costs of $30,000 and $1,850. During the month, 150,000 units were completed and transferred to finished goods. The ending WIP inventory on May 31 consisted of 10,000 units. These latter units were 100% complete with respect to materials and 80% complete with respect to conversion. Costs added during the month were $330,000 for materials and $503,750 for conversion.

Required: Using the weight-average method, calculate:

A. Total equivalent units for materials and conversion

B. The cost per equivalent unit for material and conversion

C. The cost transferred to finished goods

D. The cost of ending WIP

Accounting Basics, Accounting

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