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The assembly division of Quality Time Pieces, Inc, uses the weighted $-$ average method of process costing. Consider the following data for May $2020$ :

$($ Click the icon to view the data. $)$

$($ Click the icon to view the equivalent unit computation. $)$

Read the requirement.

Begin by summarizing total costs to account for:

$\$ table $[[, \$ table $[[$ Total $], [$ Production Costs $]], \$ table $[[$ Direct $], [$ Materials $]], \$ table $[[$ Conversion $], [$ Costs $]]], [$ Completed and transferred out, $450, 100,], [$ Work in process, ending, $160,,], [$ Total costs to account for, $610,$ NIII,D $]]$

Next, calculte cost per equivalent unit for direct materials and conversion costs.

$\$ table $[[, \$ table $[[$ Direct $], [$ Materials $]], \$ table $[[$ Conversion $], [$ Costs $]]], [,,]]$

Finally, assign total costs to units completed $($ and transferred out $)$ and to units in ending work $-$ in $-$ process inventory.

Total

Direct :

Conversion

$\$ table $[[,$ Production Costs Materials Costs $], [$ Completed and transferred out, $], [$ Work in process, ending, $], [$ Total costs accounted for, $]]$

Answer & Explanation Solved by verified expert

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