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Solex Company produces a high-quality insulation material that passes through two production processes. Data for June for the first process follow:

Solex Company produces a high-quality insulation material that passes through two production processes. Data for June for the first process follow:

Units Completion
with Respect
to Materials
Completion
with Respect
to Conversion
Work in process inventory, June 1 52,000 75 % 40 %
Work in process inventory, June 30 32,000 50 % 25 %
Materials cost in work in process inventory, June 1 $ 45,500
Conversion cost in work in process inventory, June 1 $ 12,100
Units started into production 246,000
Units transferred to the next process 266,000
Materials cost added during June $ 309,820
Conversion cost added during June $ 174,220

Required:
1.

Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for June for the first process.

Materials Conversion
Equivalent units of production

2.

Compute the costs per equivalent unit for June for the first process.(Round your answers to 2 decimal places.)

Materials Conversion
Cost per equivalent unit $ $

3.

Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in June. (Round your intermediate calculations to 2 decimal places. Round your final answer to whole dollar amount.)

Total
Cost of ending work in process inventory $
Cost of units transferred to the next process

$

Top Answer

Total Material Conversion Units transferred out 266000 266000 266000 Ending WIP 32000 16000 8000 (50% of 32000) (25% of... View the full answer

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