Product 427 passes through two departments. At the beginning of the last quarter the
cost assigned to work-in-progress were materials $256 000 and conversion $196 460.
The following equivalent unit schedule was prepared for the first department for the last
quarter when 350 000 units were completed.
Materials
Units in WIP x Fraction complete
Materials (60 000 × 80%)
Conversion (40 000 × 60%)
Actual manufacturing costs incurred during the quarter
$599 700
$286 000
Materials
Conversion
48 000
Required
(i) Using the weighted average method calculate the
.
• unit cost for the quarter
cost of goods transferred
Calculate the cost of ending work-in-progress.
Conversion Cost
24 000
17 marks]
[3 marks]
[3 marks]