EXERCISE 4–4 Applying Costs to Units—Weighted-Average Method [LO4] Data concerning a recent…

EXERCISE 4–4 Applying Costs to Units—Weighted-Average Method  [LO4]

Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below:

 

 

Equivalent units of production in ending work in process . . . . . . . . . .

300

100

Cost per equivalent unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$31.56

$9.32

 

A total of 1,300 units were completed and transferred to the next processing department during the period.

Required:

Compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory.

 

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