Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 10,000 units Direct materials: 100% complete $ 20,000 Conversion: 40% complete 8,000 Balance in work-in-process, June 1 $ 28,000 Units started during June 26,000 Units completed and transferred out 26,000 Work-in-process inventory, June 30 10,000 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials $ 44,200 Conversion costs Direct labor 44,200 Applied overhead 65,000 Total conversion costs $ 109,200 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 10,000 units Direct materials: 100% complete $ 20,000 Conversion: 40% complete 8,000 Balance in work-in-process, June 1 $ 28,000 Units started during June 26,000 Units completed and transferred out 26,000 Work-in-process inventory, June 30 10,000 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials $ 44,200 Conversion costs Direct labor 44,200 Applied overhead 65,000 Total conversion costs $ 109,200 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)
Chapter5: Process Costing
Section: Chapter Questions
Problem 5PB: Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units...
Related questions
Question
Pablo Company calculates the cost for an equivalent unit of production using
Data for June | |
---|---|
Work-in-process inventory, June 1: 10,000 units | |
Direct materials: 100% complete | $ 20,000 |
Conversion: 40% complete | 8,000 |
Balance in work-in-process, June 1 | $ 28,000 |
Units started during June | 26,000 |
Units completed and transferred out | 26,000 |
Work-in-process inventory, June 30 | 10,000 |
Direct materials: 100% complete | |
Conversion: 80% complete | |
Costs incurred during June | |
Direct materials | $ 44,200 |
Conversion costs | |
Direct labor | 44,200 |
Applied overhead | 65,000 |
Total conversion costs | $ 109,200 |
Required:
1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,