Harmon Company uses the weighted average method in its process

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Description

3.(TCO B) Harmon Company uses the weighted average method in its process costing system. The Curing Department of Harmon Company reported the following information for the month of November.

Units Percent complete with respect to materials Percentage complete with respect to conversion
Work in process, November 1 10,000 100% 80%
Units started 28,000
Completed and transferred out 30,000
Work in process, November 30 8,000 100% 30%
Costs for November Materials Conversion
Work in process, November 1 $34,500 $48,600
Added during the month $146,000 $194,400

All materials are added at the beginning of the process.

Required: Compute the following items using the weighted average method.

i. The equivalent units of production for materials

ii. The cost per equivalent unit for conversion

iii. The total cost assigned to units transferred out of the curing department during November

iv. The cost assigned to work in process inventory as of November 30(Points : 15)

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