On May 1, Dandy Company Had a Work-In-Process Inventory of 10,000

question 35

Essay

On May 1, Dandy Company had a work-in-process inventory of 10,000 units. The units were 100% complete for direct materials 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 May 31 ending work-in-process inventory consisted of 10,000 units that 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 weighted-average method, calculate:
A. total equivalent units for material and conversion.
B. the cost per equivalent unit for material and conversion.
C. the cost transferred to finished goods.
D. the cost of ending work in process.

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Definitions:

Availability

The state of being ready for use or accessible for a certain purpose or need.

Performance Contingency

A condition where the outcome or rewards depend on the level of performance achieved.

Consistency

The quality of always acting or behaving in the same way, leading to predictability in one's actions or responses.

Goal Setting

A process of identifying specific outcomes or achievements that an individual or organization aims to reach.