The Curing Department of Carmon Company reported the following information for the month of November:
|
Units |
Conversion % Completed |
| Completed and transferred |
31,000 |
|
| Work in process, 11/1 |
5,000 |
80% |
| Work in process, 11/30 |
3,000 |
30% |
|
Materials |
Labor and Overhead |
Transferred-In |
| Costs for November: |
|
|
|
| Work in process, 11/1 |
52,850 |
67,050 |
84,700 |
| Added during the month |
153,900 |
198,300 |
236,450 |
All materials are added at the beginning of the process. Inspection occurs 60 percent of the way through the process. (Round to two decimal places.)
Required:
a. What are the weighted average equivalent units for materials, transferred-in and conversion?
b. What are the FIFO equivalent units for materials, transferred-in, and conversion?
c. What is the weighted average cost per unit for conversion?
d. What is the weighted average cost per unit for materials?
e. What is the cost assigned to ending work in process using weighted average?
f. What is the cost assigned to transferred out using weighted average?
g. What is the FIFO cost per unit for conversion?
h. What is the FIFO cost per unit for materials?
i. What is the cost assigned to ending work in process using FIFO?
j. What is the cost assigned to transferred out using FIFO?