## Answers

Solution

Costs accounted for: | ||

Transferred out | $ 2,224,530 | |

Work in process, November 30 | ||

Materials | $ 60,240 | |

Conversion costs | $ 9,036 | $ 69,276 |

Total costs | $ 2,293,806 |

Working

Reconciliation of Units | ||

A | Beginning WIP | 34,700 |

B | Introduced | 664,500 |

C=A+B | TOTAL | 699,200 |

D | Transferred out | 674,100 |

E=C-D | Ending WIP | 25,100 |

.

Statement of Equivalent Units(Weighted average) | |||||||

Material | Conversion cost | ||||||

Units | Complete % | Equivalent units | Complete % | Equivalent units | |||

Transferred out | 674,100 | 100% | 674,100 | 100% | 674,100 | ||

Ending WIP | 25,100 | 100% | 25,100 | 40% | 10,040 | ||

Total | 699,200 | Total | 699,200 | Total | 684,140 |

.

Cost per Equivalent Units (Weighted average) | ||||

COST | Material | Conversion cost | TOTAL | |

Beginning WIP Inventory Cost | $ 78,800 | $ 49,000 | $ 127,800 | |

Cost incurred during period | $ 1,599,280 | $ 566,726 | $ 2,166,006 | |

Total Cost to be accounted for | $ 1,678,080 | $ 615,726 | $ 2,293,806 | |

Total Equivalent Units | 699,200 | 684,140 | ||

Cost per Equivalent Units | $ 2.40 | $ 0.90 | $ 3.30 |

.

Statement of cost (Weighted average) | |||||

Cost | Equivalent Cost/unit | Ending WIP | Transferred | ||

Units | Cost Allocated | Units | Cost Allocated | ||

Material | $ 2.40 | 25,100 | $ 60,240.00 | 674,100 | $ 1,617,840.00 |

Conversion cost | $ 0.90 | 10,040 | $ 9,036.00 | 674,100 | $ 606,690.00 |

TOTAL | $ 2,293,806 | TOTAL | $ 69,276 | TOTAL | $ 2,224,530 |

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