Weighted-average method of process costing
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AJ's Bakery bakes apple fritters to sell to area grocery stores. The company uses the weighted-average method of process costing to account for the cost of the apple fritters it produces. Raw materials (flour, sugar, flavoring, apples) and conversion costs are incurred at the same rate during the production process. Data for AJ's Bakery are as follows:
Work out the solution for items 5, 6,& 7 - see attached.
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Solution Summary
This solution illustrates how to compute the equivalent units of direct materials and conversion costs using the weighted-average process costing method, as well as how to compute the cost per equivalent unit, the cost of ending work in process inventory, and the cost of goods completed and transferred during the month.
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