Minnon, Inc., uses a weighted-average process-costing system. All materials are introduced at the beginning of production; conversion cost is incurred evenly throughout manufacturing. The following information pertains to April:

The company's accountant has already computed the cost per equivalent unit, as follows: materials, $5; conversion, $14.
Required:
Calculate the cost of goods completed during April and the cost of the ending work-in-process inventory.

Question

Minnon, Inc., uses a weighted-average process-costing system. All materials are introduced at the beginning of production; conversion cost is incurred evenly throughout manufacturing. The following information pertains to April:
  
The company's accountant has already computed the cost per equivalent unit, as follows: materials, $5; conversion, $14.
Required:
Calculate the cost of goods completed during April and the cost of the ending work-in-process inventory.

Quizplus · Accepted Answer

The Answer of Minnon, Inc., uses a weighted-average process-costing system. All materials are introduced at the beginning of production; conversion cost is incurred evenly throughout manufacturing. The following information pertains to April:
  
The company's accountant has already computed the cost per equivalent unit, as follows: materials, $5; conversion, $14.
Required:
Calculate the cost of goods completed during April and the cost of the ending work-in-process inventory.