Barnett Corporation uses the weighted-average method in its process costing system.The company adds materials at the beginning of the process in Department M.Conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1 and 50% complete with respect to the 6,000 units in work in process at May 31.During May,12,000 units were completed and transferred to the next department.An analysis of the costs relating to work in process at May 1 and to production activity for May follows: The total cost per equivalent unit for May was:

Question

Barnett Corporation uses the weighted-average method in its process costing system.The company adds materials at the beginning of the process in Department M.Conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1 and 50% complete with respect to the 6,000 units in work in process at May 31.During May,12,000 units were completed and transferred to the next department.An analysis of the costs relating to work in process at May 1 and to production activity for May follows:  The total cost per equivalent unit for May was:

Quizplus · Accepted Answer

Weighted-average method
Weighted-average method equivalent units of production
 11eaa3fe_3313_fda2_908b_5379ba90b2d7_TB2461_00 Weighted-average method cost per equivalent unit
 11eaa3fe_3314_24b3_908b_a10e6140b827_TB2461_00 Total cost per equivalent unit = $3.10 + $2.00 = $5.10

Barnett Corporation Uses the Weighted-Average Method in Its Process Costing