## Question

###### Superior Micro Products uses the weighted average method in its process costing system. During January, the...

Superior Micro Products uses the weighted average method in its process costing system. During January, the Delta 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 amounted to $707,415 in total. The ending work in process inventory in January consisted of 3,700 units, which were 70% complete with respect to materials and 50% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Cost per equivalent unit Materials $ 13.50 Labor $ 4.70 Overhead $ 7.30 Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January. 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in total for January. 4. Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning work in process inventory and costs added during the month.)

## Answers

Equivalent Units: UNITS Material Cost Labour Overheads % Completion Units % Completion Units % Completion Units Units completed and transferred out 25500 100% 25,500 100% 25,500 100% 25,500 Ending Work in Process 3700 70% 2,590 50% 1,850 50% 1,850 Total Equivalent units 29200 28,090 27,350 27,350 Ending Work in process (3700 units) Equivalent unit Cost per EU Total Cost Material 2,590 13.5 34965 Labour 1850 4.7 8695 Overheads 1,850 7.3 13505 Total cost of Ending Work in process: 57,165 Cost of Units transferred out (25500 units) Equivalent unit Cost per EU Total Cost Material 25,500 13.5 344250 Labour 25500 4.7 119850 Overheads 25,500 7.3 186150 Total cost of Ending Work in process: 6,50,250 Final Answer: Req 1. Material Labour Overheads Equivalent units 28,090 27,350 27,350 Req 2. Material Labour Overheads Total Ending WIP inventory 34,965 8,695 13,505 57,165 Req 3. Material Labour Overheads Total Cost of Units completed and transferred 3,44,250 1,19,850 1,86,150 6,50,250 Req 4. Cost to account for 7,07,415 Cost accounted for: Cost of units completed and transferred out 57,165 Cost of Ending WIP inventory 6,50,250 Total cost accounted for 7,07,415

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