Heara Ltd manufactures metal sheets, and uses the weighted average method process costing. On 1 May the Rolling Department had 3000 units work in progress, which were 50 percent completed as to conversion costs. During May 8000 units were completed and transferred out. The remaining work in progress on 30 May was 2000 units, at 50 percent complete in terms of conversion rate. Materials are added at the beginning of the process and conversion costs are incurred uniformly. What is the equivalent unit of work done to date for direct materials and conversion costs respectively?

Compute the number of equivalent units with respect to direct materials using the weighted-average method.   Units Direct Materials Percent Complete Conversion Percent CompleteBeginning work in process inventory 23,000 100% 50%Units started and completed 130,000    Units completed and transferred out 153,000    Ending work in process inventory 31,000 100% 55%

During January, the production department of a process operations system completed and transferred to finished goods a total of 59,000 units. At the end of January, 12,000 additional units were in process in the production department and were 45% complete with respect to conversion. The beginning inventory included conversion cost of $39,200 and the production department incurred conversion costs of $311,100 during January. Compute the cost per equivalent unit for conversion for the department using the weighted-average method.

1) In a process-costing system average unit costs are calculatedA) by dividing total costs in a given accounting period by total units produced in that period.B) by multiplying total costs in a given accounting period by total units produced in that period.C) by dividing total costs in a given accounting period by units started in that period.D) by multiplying total costs in a given accounting period by units started in that period.

Consider the following data for the assembly division of Fenton Watches ​Company: The assembly division uses the​ weighted-average method of process costing. Compute the unit cost of a completely finished watch.Physical Units (Watches) Direct Materials Conversion CostsBeginning​ work-in-process (May 1)a 95 $491,000 $94,984Started in May 2021 525 0 0Completed during May 2021 450 0 0Ending​ work-in-process (May 31)b 170 0 0Total costs added during May 2021 $3,218,880 $1,400,000a. Degree of​ completion: direct​ materials, 90%; conversion​ costs, 40%.b. Degree of​ completion: direct​ materials, 70​%; conversion​ costs, 30​%.

Collins Chemicals produces a compound through two processes. For its first process for a particular period, Collins had an opening WIP inventory of 100 units halfway through the process; 2300 units completed in the period; and a closing WIP inventory of 400 units three-quarters of the way through the process. Materials are added at the beginning of the process and conversion costs are incurred uniformly. Which statement is correct if the firm used weighted average costing?Group of answer choicesEquivalent units of direct material and conversion costs are both 2,600 for the period.Equivalent units of conversion costs are 2,700, and equivalent units of direct materials are 2,600.Equivalent units of direct material and conversion costs are both 2,700 for the period.Equivalent units of direct materials are 2,700, and equivalent units of conversion costs are 2,600.None of above.