Question: Input the data for both companies Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one

Input the data for both companiesInput the data for both companies Clonex Labs, Inc., uses the weighted-average

method in its process costing system. The following data are available for

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Work in process, October 1 Work in process, October 31 Units 52,000 35,000 Equivalent units of production Percent Completed Materials 95% 72% The department started 394,000 units into production during the month and transferred 411,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Conversion Conversion 60% 55% Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Work in process, May 1 Cost added during May Equivalent units of production Cost per equivalent unit Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.) Materials Materials Labor 14,000 $ 21,351 $ $ 84,700 $ 14,234 1,200 1,100 Labor Overhead $ 101,070 $ 67,380 1,000 Overhead Total

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!