Whiston Corporation Uses the Weighted-Average Method in Its Process Costing

question 117

Essay

Whiston Corporation uses the weighted-average method in its process costing system.The following data were taken from the records of the first processing department for a recent month. Required:
a.How many units were transferred to the next department during the month?
b.What were the equivalent units of production for materials and for conversion costs for the month?
c.What were the costs per equivalent unit of production for materials and for conversion costs for the month?
d.What was the cost of the ending work in process inventory in the department at the end of the month?
e.What was the cost of the units completed and transferred to the next department during the month?

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Definitions:

Exclusive Representation

Refers to the rights of a duly selected union to be the sole representative of all employees in a bargaining unit, negotiating on their behalf.

Company-Dominated Unions

Labor organizations that are controlled or heavily influenced by the employer, rather than being an independent body representing workers' interests.

Wagner Act

A foundational piece of U.S. legislation, formally known as the National Labor Relations Act of 1935, which established the legal right for workers to form unions and engage in collective bargaining.

Wagner Act

Also known as the National Labor Relations Act of 1935, a foundational U.S. law that established the rights of employees to engage in collective bargaining and union activities.