Apply process costing to analyze the manufacturing process of EFGH Company for the month of March 20X11. The following information is available for Department A:
•Beginning work in process: 5,000 units, 40% complete
•Started production: 20,000 units
•Ending work in process: 7,000 units, 20% complete
•Costs incurred: $50,000 for materials, $30,000 for labor, and $20,000 for overhead
Additional Information:
•Cost per equivalent unit for materials: $2.50
•Cost per equivalent unit for labor: $1.50
•Cost per equivalent unit for overhead: $1.00