(Solved): Exercise 5-12 (Algo) Equivalent Units; Assigning Costs; Cost Reconciliation-Weighted-Average Method ...
Exercise 5-12 (Algo) Equivalent Units; Assigning Costs; Cost Reconciliation-Weighted-Average Method LO5-2, LO5-4, LO5-5] Superior Micro Products uses the weighted-average method of process costing. During January, the Assembly Department completed its processing of 25,500 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January totaled
$664,554. The ending work in process inventory in January consisted of 2,700 units, which were
50%complete for materials and
30%complete for labor and overhead. The costs per equivalent unit for the month were as follows: Required: For January: Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in total. Prepare a cost reconciliation report. Complete this question by entering your answers in the tabs below. Required 1 Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory.
