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 Materials: $30,800 Labor: $50,625 Overhead: $246,600 Cost added during May $186,690 $33,750 $164,400 Equivalent units of production $2,600 $2,500 $2,400

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 Materials: $30,800 Labor: $50,625 Overhead: $246,600 Cost added during May $186,690 $33,750 $164,400 Equivalent units of production $2,600 $2,500 $2,400

Financial & Managerial Accounting

14th Edition

ISBN:9781337119207

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter18: Activity-Based Costing

Section: Chapter Questions

Problem 2ADM

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Exercise 4-3 (Algo) Cost per Equivalent Unit—Weighted-Average Method [LO 4-3]

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	Materials: $30,800	Labor: $50,625	Overhead: $246,600
Cost added during May	$186,690	$33,750	$164,400
Equivalent units of production	$2,600	$2,500	$2,400

Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)Required:

	Materials	Labor	Overhead	Total
Cost per equivalent unit:

Definition Definition Operation costing method employed to determine the value of a product at each process or stage of the production process, applicable where goods produced from a series of continuous operations or procedure. Process costing is employed by businesses that manufacture goods and where production is in repetitive inflow.

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