4. The Assembly Department uses a process cost accounting system and a wei

4.

The Assembly Department uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at the beginning of
the process and incurs conversion costs uniformly throughout the process. During July $190000 of materials costs and $135000 in conversion costs were
charged to the department. The beginning work in process inventory was $103000 on July 1 comprised of $80000 of materials costs and $23000 of conversion
costs.

Other data for the month of July are as follows:

Beginning work in process inventory 7/1 25000 units (40% complete)

Units completed and transferred out 70000 units

Ending work in process inventory 7/31 30000 units (30% complete)

Instructions

Answer the following questions and show computations to support your answers.

1. How many physical units have to be accounted for in July?

2. What are the equivalent units of production for materials and for conversion costs for the month of July?

3. What is the total cost assigned to the 70000 units that were transferred out of the process in July?

4. What is the total cost of the July 31 inventory?