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Posted by: Homeworkhelp
Price Quoted by Student: $6
Posted On: 2016-03-12 11:11:11
 
Question

Harmon Company uses the weighted average

 

Harmon Company uses the weighted average method in its process costing system. The Curing Department of Harmon Company reported the following information for the month of November. 

 

Units

Percent complete with respect to  materials

Percentage complete with respect to conversion

Work in process, November 1

10,000

100%

80%

Units started

28,000

 

 

Completed and transferred out

30,000

 

 

Work in process, November 30

8,000

100%

30%

 

 

 

 

 

 

 

 

Costs for November

Materials

 

Conversion

    Work in process, November 1

$34,500

 

$48,600

    Added during the month

$146,000

 

$194,400


All materials are added at the beginning of the process.

Required: Compute the following items using the weighted average method.
 
i. The equivalent units of production for materials

ii. The cost per equivalent unit for conversion
iii. The total cost assigned to units transferred out of the curing department during November
iv. The cost assigned to work in process inventory as of November 30 

 

TUTORIAL PREVIEW

a.       Units transferred out                                                                            30,000

Add: Equivalent units in ending inventory (8,000 x 100%)                 8,000

Equivalent units for materials                                                              38,000


Solutions
  a.     &nbs
Price $6
Attachment 1: Harmon Company.docx
Solution Posted By: Homeworkhelp    Posted on: 12-03-2016