Progressive Company produces a product in a process-costing system involving several departments. The company uses the weighted-average method of product costing. The first department’s data for the month of April follow:
Units in beginning work-in-process inventory 25,000
Units started during April1 210,000
Units completed during April 180,000
Units in ending work-in-process inventory 55,000
Direct materials added in current month $188,000
Conversion costs added in current month $124,000
Direct materials beginning work-in-process inventory $25,750
Conversion costs beginning work-in-process inventory $3,225
Stage of Completion:
Materials Conversion Costs
Beginning work-in-process inventory 100% 30%
Ending work-in-process inventory 100% 65%
Required:
A) Compute equivalent units for materials and conversion costs.
B) Compute the cost per unit for materials and conversion costs.
C) Compute the cost of the units transferred.
D) Compute the cost of the ending work-in-process inventory.