Pablo Company calculates the cost of an equivalent unit of production using the cost process. June data
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Question:
Pablo Company calculates the cost of an equivalent unit of production using the cost process.
June data | |||
Work-in-process inventory, June 1: 28,000 units | |||
Direct materials: 100% complete | ps | 58,800 | |
Conversion: 40% complete | 22,400 | ||
Balance in work in process, June 1 | ps | 81,200 | |
Units started during June | 65,600 | ||
Units completed and transferred | 65,600 | ||
Work-in-process inventory, June 30 | 28,000 | ||
Direct materials: 100% complete | |||
Conversion: 80% complete | |||
Cost incurred during June | |||
Direct materials | ps | 229,600 | |
conversion costs | |||
Direct labour | 229,600 | ||
Overhead Charges Applied | 282,080 | ||
Total conversion costs | ps | 511,680 | |
Required: | ||||||||||||||
1. | Calculate the cost per equivalent unit for the weighted average and FIFO methods.
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Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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