Calculate equivalent units of production and prepare a cost per equivalent unit schedule. Process Units Started and
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Question:
Calculate equivalent units of production and prepare a cost per equivalent unit schedule.
Process | Units Started and Completed | Beginning WIP Units | Ending WIP Units |
Mixing | 30,000 units | 5,000 units | 3,000 units |
Refining | 25,000 units | 2,500 units | 1,000 units |
Requirements:
Calculate the equivalent units of production for direct materials and conversion costs using the weighted average method.
Prepare a cost per equivalent unit schedule for each process.
Allocate costs to units completed and ending work in process for each process.
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