Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company's first production process September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to direct labor and overhead; consists of $45,000 of direct materials cost, $56,320 conversion cost) $ 101,320
Costs incurred in September Direct materials $ 375,000
Conversion $ 341,000
Work in process inventory, September 30 (7,000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion)
Required:
Compute each of the following, assuming Hi-Test uses the weighted-average method of process costing.(Round "Cost per EUP" to 2 decimal places.)
The number of physical units that were transferred out and the number that are in ending work in process inventory.
Units Reconciliation
Units to account for
Total units accounted for
Total units accounted for