Question 2 (20 marks) West Company manufactures a highly specialized titanium sheathing material that is...
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Question 2 (20 marks) West Company manufactures a highly specialized titanium sheathing material that is used in the aircraft industry. The company uses the weighted-average method of accounting for units and costs. The following data relate to activity for the month of June. Conversion activity occurs uniformly throughout the production process. Percentage Completed Conversion Units Direct Material Work in process, June 1 40,000 100% 38% Work in process, June 30 100% 55% Material cost in work in process, June 1 $110,500 Conversion cost in work in process, June 1 $22,375 Material cost added during June $430,000 Conversion cost added during June $320,000 Units started during June 190,000 180,000 Units completed transferred out during June Required: 1) Determine the number of units in work in process on June 30. (2 marks) 2) Compute the total equivalent units for direct material and conversion cost. (4 marks) 3) Compute the cost per equivalent unit for June. (6 marks) 4) Determine the cost of the total cost of the ending work in process and total cost of completed production in June. (8 marks)
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