ACG$2071-$ SPRING $2023$

CHAPTER $12$ HOMEWORK

EXERCISE $2$

Legacy Company manufactures umbrellas and has the following information available for the month o

$64,50103,00189,500=$

$815018$

Work in process, May $1$

$(100\%$ complete for materials, $90\%$ for conversion$)36,000$ units

Direct materials

$$64,500$

Conversion cost

$$87,500$

Number of units started

$90,500$ units

May costs

Direct materials

$$103,000$

Conversion cost

$$189,500$

Work in process, May $31$

$(100\%$ complete for materials, $20\%$ for conversion$)$

$33,500$ units

Required:

Using the weighted$-$average method of process costing, complete each of the following steps:

Reconcile the number of physical units worked on during the period.

Calculate the number of equivalent units.

units

comped $t$ end W$|$P$=$

Calculate the cost per equivalent unit rounded to five decimal places.

Reconcile the total cost of work in process.