Barnett Corporation uses the weighted-average method in its process costing system. The company adds materials...
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Barnett Corporation uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in Department M. Material costs were 100% complete and conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1. Material costs were 100% complete and conversion costs were 60% complete with respect to the 6,000 units in work in process at May 31. During May, 12,000 units were completed and transferred to the next department. An analysis of the costs relating to work in process at May 1 and to production activity for May follows: Materials Conversion
Work in process, May 1.......... $13,800 $ 3,740
Costs added during May........ $42,000 $26,260
The total cost per equivalent unit for May was:
$5.02
$5.10
$5.12
$5.25
None of the above.
The total equivalent units of production for conversion costs are:
20,000 equivalent units
12,000 equivalent units
18,000 equivalent units
15,600 equivalent units
None of the above.
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