Question: A company uses process costing and the weighted average method to determine its manufacturing costs. The following data is provided for Department Q: Opening work

A company uses process costing and the weighted average method to determine its manufacturing costs.

The following data is provided for Department Q:

Opening work in process inventory, beginning of March:

  • 300 units, 40% complete as to materials, 20% complete as to labour and 10% complete as to overhead
  • total costs of these partially completed units $ 6,000 (materials $ 3,000, labour $ 2,000 and overhead $ 1,000)

New units started during March - 5,000 units

Costs incurred during March:

  • materials $127,500
  • labour $163,760
  • overhead $167,960

Units in ending work in process inventory at March 31

  • 200 units, 60% complete as to materials, 40% complete as to labour and 10% complete as to overhead

Required: for each of the three costs, what are the equivalent units of production for March?

Notes: round to 2 decimals and show work for part marks (9marks)

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