Weighted average method, unit cost, valuing inventories
applegate enterprises produces premier raspberry jam. output is measured in pints. applegate uses the weighted average method. during january, applegate had the following production data:
units in process, january 1, 60% complete 120,000 pints
units completed and transferred out 760,000 pints
units in process, january 31, 40% complete 230,000 pints
costs:
work in process, january 1 $120,000
costs added during january 732,000
required:
1. using the weighted average method, calculate the equivalent units for january.
equivalents units
2. calculate the unit cost for january. round your answer to the nearest cent.
$per unit
3. assign costs to units transferred out and ewip.
cost of goods transferred out $
ending work in process (ewip) $