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Solex Company produces a high-quality insulation material that passes through two production processes Data for June for the first process follow

Solex Company produces a high-quality insulation material that passes through two production

processes. Data for June for the first process follow:

 

 

 

 

 

 

 

 

 

 

inventory, June 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$14,900

Units started into production . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

280,000

Units transferred to the next process . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

300,000

Materials cost added during June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$385,000

Conversion cost added during June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$214,500

 

Required:

1.       Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for June for the first process.

 

 

2.       Compute the costs per equivalent unit for June for the first process.

3.       Determine the total cost of ending work in process inventory and the total cost of units trans- ferred to the next process in June.

Jun 30 2020 View more View Less

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