Question
3. The following data for the month of September were taken form the cost records of Department 1 of Pro-Life products which uses process costing
3. The following data for the month of September were taken form the cost records of Department 1 of Pro-Life products which uses process costing system:
Opening inventory of work in process:
Units 500 (with all materials added and 50% of labor and overhead)
Cost Materials 2, 400
Labor 1, 500
Factory overhead 760
Put into production:
Units 5, 000
Costs - Materials 25, 100
Labor 19, 380
Factory overhead 14, 900
Completed and transferred 4, 800 units
Ending inventory of work in process:
Units 700 (with all materials, and 60% of labor and overhead)
- The cost per equivalent unit (rounded to nearest centavo) under FIFO:
- The cost per equivalent unit (rounded to nearest centavo) under weighted average:
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