Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm’s sawmill during November.

The equivalent units of activity for November were as follows: 7,000 equivalent units of direct material and 1,740 equivalent units of conversion activity.

Required: 

Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average process costing.

Transcribed Image Text:

Work in process, November 1: Direct material Conversion Costs incurred during November: Direct material Conversion........... $ 65,000 180,000 $425,000 690,000