The ending wip inventory on may 31 consisted of 10000, Ask an Expert

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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

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9440858

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