Kramer Corp. began the current period with 4,030 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,500 in direct materials and $4,720 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,010 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,000 in direct materials costs, $7,190 in direct labor costs, and $40,100 in manufacturing overhead costs during the period. Required: a. Using the weighted average method, compute the equivalent units of production for materials. Equivalent Units b. Using the weighted average method, compute the equivalent units of production for conversion. Equivalent Units c. Using the weighted average method, compute the cost per equivalent unit for materials. (Round your answer to 2 decimal places.) Cost per Equivalent Unit
Kramer Corp. began the current period with 4,030 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,500 in direct materials and $4,720 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,010 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,000 in direct materials costs, $7,190 in direct labor costs, and $40,100 in manufacturing overhead costs during the period. Required: a. Using the weighted average method, compute the equivalent units of production for materials. Equivalent Units b. Using the weighted average method, compute the equivalent units of production for conversion. Equivalent Units c. Using the weighted average method, compute the cost per equivalent unit for materials. (Round your answer to 2 decimal places.) Cost per Equivalent Unit
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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