Paradise Inc Required:
Using the Weighted-Average Method:
A

question 17

Essay

Paradise Inc.uses the weighted-average method in its process costing system.The following data concern the operations of the company's first processing department - Cutting - for a recent month.
$$\begin{array}{l}\begin{array} { | l | r | } \hline\text { Work-ir-process, beginning: }\\\hline \text { Units in process } & 100 \\\hline \text { Percent complete with respect to materials } & 70 \% \\\hline \text { Percent complete with respect to conwersion } & 80 \% \\\hline \text { Costs in the beginning inventory: } & \\\hline \text { Materials cost } & \$ 525 \\\hline \text { Conversion cost } & \$ 1,696 \\\hline \text { Units started into production during the month } & 11,000 \\\hline \text { Units completed and transterred out } & 10,700 \\\hline \text { Costs added to production during the month: } & \\\hline \text { Materials cost } & \$ 83,405 \\\hline \text { Conversion cost } & \$ 223,606 \\\hline \text { Work-in-process, ending: } & \\\hline \text { Units in process } & 400 \\\hline \text { Percent complete with respect to materials } & 50 \% \\\hline \text { Percent complete with respect to conversion } & 20 \% \\\hline\end{array}\end{array}$$
Required:
Using the weighted-average method:
a.Determine the equivalent units of production for materials and conversion costs.b.Determine the cost per equivalent unit for materials and conversion costs.c.Determine the cost of units transferred out of the department during the month.d.Determine the cost of ending work-in-process inventory in the department.

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Definitions:

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