Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for February 2016 are as follows:

Production data:
In process, beginning of month (20% converted)	1,000 units
Started during February	5,000 units
Completed and transferred to finished goods	4,500 units
In process, end of month (60% converted)	1,500 units
Manufacturing costs:
Work in process, beginning (Direct Materials $3,000; Conversion Costs: $18,360)	$21,360
Direct Materials added during peroid	$45,000
Conversion Costs added during peroid	$154,440

Required:
Calculate the Following using the weighted average method:

Equivalent Units of Production for Direct materials	(Do not enter commas in answer for example 5,000 should be entered as 5000)
Equivalent Units of Production for Conversion Costs	(Do not enter commas in answer for example 5,000 should be entered as 5000)
Cost per Equivalent Unit – Direct Materials	$ (Round to 2 decimal places)
Cost per Equivalent Unit – Conversion Costs	$ (Round to 2 decimal places)
Total value of units transferred out	$.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000)
Total value of Ending Inventory	$.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000)

Answer rating: 100% (QA)

Answer To calculate the equivalent units of production for direct materials and conversion costs using the weighted average method we need to consider ... View the full answer