Question: Given below are the production data for Cherokee Traders for the first month of operations: Costs charged to Cherokee Traders: Materials $18,000 Labour 3,400 Overhead

Given below are the production data for Cherokee Traders for the first month of operations: Costs charged to Cherokee Traders: Materials $18,000 Labour 3,400 Overhead 19,000 During this first month of operations, 3,000 units were started into production; 2,500 units were transferred out; and the remaining 500 units are 100% completed with respect to materials and 60% complete with respect to conversion costs. The company uses the weighted average method of process costing. Instructions Calculate the following: a) Unit materials cost b) Equivalent units of conversion costs c) Unit conversion cost d) Total cost of 500 units in process at end of month e) Total cost of 2,500 units transferred out
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