Business, 05.07.2020 17:01 c4thegoat

There are 3 blanks for this homework problem I do not know how to do. The quesetions are bolded with blanks and question marks. Weighted Average Method, Unit Costs, Valuing Inventories

Byford Inc. produces a product that passes through two processes. During November, equivalent units were calculated using the weighted average method:

Units completed196,000
Add: Units in EWIP X Fraction complete (60,000 X 40%)24,000
Equivalent units of output (weighted average)220,000
Less: Units in BWIP X Fraction complete (50,000 X 70%)35,000
Equivalent units of output (FIFO)185,000
The costs that Byford had to account for during the month of November were as follows:

BWIP$107,000
Costs added993,000
Total$1,100,000
Required:

1. Using the weighted average method, determine unit cost.

per unit ??

2. Under the weighted average method, what is the total cost of units transferred out? What is the cost assigned to units in ending inventory?

Cost of units transferred out ??
Cost of ending inventory??

Answers: 1

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