Maximilian CD producers use the weighted average method of process costing.The following information was available for the current year:
$\begin{array}{lcc}
& \text {Number } & \text {Production } \
&\underline{ \text {of units } } &\underline{\text { costs }}\
\text { Beginning work-in-process ( $ 30 \% $ complete) } &4000&\$7000\
\text {Goods completed in the period } &65000&142000\
\text { Ending work-in-process ( $ 40 \% $ complete) } &7000\
\end{array}$

Required:
A. How many total equivalent units were completed during the year?
B. What was the cost per equivalent urit?
C. What is the cost allocated to the ending work-in-process units?
D. What is cost of goods manufactured for the year?

Question

Maximilian CD producers use the weighted average method of process costing.The following information was available for the current year:
$\begin{array}{lcc}
& \text {Number } & \text {Production   } \
&\underline{ \text {of units  } } &\underline{\text { costs }}\
  \text { Beginning work-in-process ( $ 30 \% $ complete) } &4000&\$7000\
 \text {Goods completed in the period } &65000&142000\
 \text {  Ending work-in-process ( $ 40 \% $ complete) } &7000\
\end{array}$

Required:
A. How many total equivalent units were completed during the year?
B. What was the cost per equivalent urit?
C. What is the cost allocated to the ending work-in-process units?
D. What is cost of goods manufactured for the year?

Quizplus · Accepted Answer

The Answer of Maximilian CD producers use the weighted average method of process costing.The following information was available for the current year:
$\begin{array}{lcc}
& \text {Number } & \text {Production   } \
&\underline{ \text {of units  } } &\underline{\text { costs }}\
  \text { Beginning work-in-process ( $ 30 \% $ complete) } &4000&\$7000\
 \text {Goods completed in the period } &65000&142000\
 \text {  Ending work-in-process ( $ 40 \% $ complete) } &7000\
\end{array}$

Required:
A. How many total equivalent units were completed during the year?
B. What was the cost per equivalent urit?
C. What is the cost allocated to the ending work-in-process units?
D. What is cost of goods manufactured for the year?

Maximilian CD Producers Use the Weighted Average Method of Process