The Meekma Beverage Corporation manufactures flavored bottled water and uses process costing to account for the cost of the products manufactured. Raw material and conversion costs are incurred at the same rate during the production process. Data for Meekma€™s mixing department for March are as follows:

Meekma uses the first-in, first-out method to calculate equivalent units.

Required
A. How many units were completed in March?
B. How many equivalent units were completed in March?
C. What is the cost per equivalent unit?
D. What is the cost of the ending WIP?
E. What is the cost of the units transferred out of the mixing department? That is, what is the cost of goods manufactured duringMarch?

Transcribed Image Text:

Production Costs $ 60,000 1,187,500 Units Work in process, March 1 (80% complete) Started during March Work in process, March 31 (40% complete) 5,000 100,000 10,000