Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 26,600 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $745,688 in total. The ending work in process inventory in January consisted of 3,600 units, which were 80% complete with respect to materials and 60% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows:_______.
Materials Labor Overhead
Cost per equivalent unit $14.40 $4.50 $7.90
Required:
1. Compute the equivalent units of materials, labor, and overhead in the ending inventory for the month.
2. Compute the cost of ending inventory and of the units transferred to the next department for January.
3. Prepare a cost reconciliation for January.