Able Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. 
Required:
a. Determine the equivalent units of production.
b. Determine the costs per equivalent unit.
c. Determine the cost of ending work in process inventory.
d. Determine the cost of the units transferred to the next department.
Definitions:
Capital Goods
Physical assets that are used in the production process to manufacture goods and services, including buildings, machinery, and equipment.
Future Value
The value of an investment or asset at a specified future date based on assumed rates of growth or interest.
Present Value
The valuation at present of a future sum of money or sequence of cash inflows, applying a specified rate of return.
Interest Rate
The percentage of a sum of money charged for its use, reflecting the cost of borrowing money or the return on invested savings.
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