Kenton Industrial Corporation uses the weighted-average method in its process costing system. During April, the Baker Assembly Department completed its processing of 25,700 units and transferred them to the next department. The cost of beginning inventory and the costs added during April amounted to $715,220 in total. The ending inventory in April consisted of 4,000 units, which were 60% complete with respect to materials and 40% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows:
|
Materials |
Labor |
Overhead |
| Cost per equivalent unit |
$ |
13.60 |
$ |
4.30 |
$ |
7.90 |
|
| 1. |
Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. |
|
Materials |
Labor |
Overhead |
| Equivalent units in ending work in process inventory |
|
|
|
|
| 2. |
Compute the cost of ending work in process inventory and of the units transferred to the next department for April. |
|
Materials |
Labor |
Overhead |
Total |
| Cost of ending work in process inventory |
$ |
$ |
$ |
$ |
| Cost of units completed and transferred out |
$ |
$ |
$ |
$ |
|
| 3. |
Prepare a cost reconciliation for April. (Note: You will not be able to break the cost to be accounted for into the cost of beginning inventory and costs added during the month.)
|
| Cost Reconciliation |
| Total cost to be accounted for |
$ |
|
|
| Total costs accounted for as follows: |
|
| Cost of ending work in process inventory |
$ |
| Cost of units completed and tranferred out |
|
|
|
| Total cost accounted for |
$ |
|
|
|