The following information is accessible for the Department of Steins for the month of a July:
Units Costs
Work in process, July 1
(70% complete for conversion costs) 5,000
Direct materials $6,000
Direct labour 3,000
Manufacturing overhead 4,000
Total work in process, July 1 $13,000
Started in production during July 20,000
Costs added:
Direct materials $18,000
Direct labor 8,000
Manufacturing overhead 10,000
Total costs added during July $36,000
Work in process, July 31
(80% complete for conversion costs) 2,000
Materials are added at the beginning of process.
Required:
1. What would be equivalent units of production for materials using the Weighted Average Method?
2. What would be equivalent units of production for conversion costs by using the Weighted Average Method?
3. What would be cost per equivalent unit of production for materials by using the Weighted Average Method?
4. What would be cost per equivalent unit of production for conversion costs by using the Weighted Average Method?
5. What would be cost of goods transferred out by using the Weighted Average Method?
6. What would be cost of ending work in process by using the Weighted Average Method?