1. Business
  2. Accounting
  3. 2 equivalent units cost reconciliationweighted average method helox inc manufactures...

Question: 2 equivalent units cost reconciliationweighted average method helox inc manufactures...

Question details

2 .Equivalent Units; Cost Reconciliation-Weighted Average Method Helox, Inc., manufactures a product that passes through two production processes. A quantity schedule for the month of May for the first process follows: Schedule and E Schedwle Units to be accounted for Work in process, May 1 (materials 100% complete: labor and overhead 40% complete) 5,000 80,000 Started into otal units units Materials Labor Overhend Units accounted for as follows: Transferred to the next department ! 175,000 | Work in process, May 31 (materials ? 100% complete, labor and overhead 30% otal units e Unir Whole Total Materials Labor Overhead ost to be accounted for Work in Cost added by the otal cost (a 406,000 54,000 11,20040,800 valent units (b) ost per EU. valent units Total cost MaterialsLabor Overhead ost accounted for as follows: Trans ferred to the next department: (Punits X Sper Work in process. N Materials, at per EU r EU Overhead, at Total work in otal Cost accounted for EU Regnired: (1). Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for the month for the first processing department (2). Compute the costs per equivalent unit for the month for the first process (3). Complete the Cost Reconciliation part of the production report for the first processing department.
Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution