Chapter 4, Problem 8E

To determine

Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describe the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units.

Requirement1:

The equivalent number units of each element of cost shall be determined.

To determine

Requirement2:

The cost per equivalent unit for each element of cost shall be determined.

To determine

Requirement3:

The cost of ending work in process inventory in respect to material, conversion and total shall be determined.

To determine

Requirement4:

The cost of goods completed and transferred out shall be determined.