Question: 1. Assume that weighted average process costing is used. What is the cost per equivalent unit for material?2. Assume that FIFO process costing is used.

1. Assume that weighted average process costing is used. What is the cost per equivalent unit for material?2. Assume that FIFO process costing is used. What is the cost per euivalent unit for conversion?

Given the following information Beginning Work in Process Inventory (70% complete as to conversion) 6,000 units Started 24,000 units Ending Work in Process Inventory (10% complete as to conversion) 8,500 units Beginning WIP Inventory Costs: Material P23,400 Conversion 50,607 Current Period Costs: Material P31,500 Conversion 76,956 All material is added at the start of the process and all finished products are transferred out

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