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Hutchcroft Corporation uses the weighted-average method in its process costing. The following data concern the company’s...

Question

Hutchcroft Corporation uses the weighted-average method in its process costing. The following data concern the company’s...

Hutchcroft Corporation uses the weighted-average method in its process costing. The following data concern the company’s Assembly Department for the month of June. Materials Conversion Cost per equivalent unit $ 31.80 $ 34.60 Equivalent units in ending work in process 1,380 600 During the month, 7,700 units were completed and transferred from the Assembly Department to the next department. Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method. (Round your answers to 2 decimal places.)

Answers

Cost of ending work in process:

Material:

= $31.80 X 1,380

= $43,884

Conversion:

= $34.60 X 600

= $20,760

Cost of units completed and transferred out:

Material:

= $31.80 X 7,700

= $244,860

Conversion:

= $34.60 X 7,700

= $266,420


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