Lakeland Chemical makes a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs evenly throughout production. Beginning work-in-process inventory is 60% complete with respect to conversion; ending work-in-process inventory is 20% complete. The following data correspond to May:

		Units
Work in progress, May 1		15,000
Units started during May		60.000
Units completed and transferred		68,000
Work in progress, May 31		7,000

	Total					Direct materials					conversion costs
Costs:
Work in progress, May 1		ps	41,250				ps	16,500				ps	24,750
Costs incurred during May			234,630					72,000					162,630
Totals		ps	275,880				ps	88,500				ps	187,380

Using the weighted average process cost method, the equivalent units of direct materials add up to:

Using the process cost weighted average method, the equivalent units of conversion activity add up to:

Using the weighted average process cost method, the cost per unit of direct materials is:

Using the weighted average process cost method, the cost per unit of conversion activity is:

Using the weighted average process cost method, the total costs remaining in work in process as of May 31 are ?

Answer rating: 100% (QA)

To calculate the equivalent units of direct materials and conversion activity ... View the full answer