Karlene Industries produces plastic ice cube trays in two processes: heating and stamping. All materials are added at the beginning of the Heating Department process. Karlene uses the weighted average method to compute equivalent units.
On November 1, the Heating Department had in process 1,000 trays that were 70% complete. During November, it started into production 12,000 trays. On November 30, 2012, 2,000 trays that were 60% complete were in process.
The following cost information for the Heating Department was also available.
|
Work in process, November 1: |
Costs incurred in November: |
|
|
Materials |
$ 640 |
Material $3,000 |
|
Conversion costs |
360 |
Labor 2,300 |
|
Cost of work in process, Nov. 1 |
$1,000 |
Overhead 4,050 |