Calculate the cost per equivalent unit of material and conversion cost for January - using the Weighted Average Approach

Units

Materials

Conversion

Work in process January 1

2,500

50%

35%

Work in process January 31

45%

25%

Materials cost in work in process January 1

$25,000

Conversion costs in work in process January 1

$10,000

Units started in production

12,000

Units transferred to the next department

8,000

Materials cost added during January

$20,000

Conversion costs added during January

$7,500

Complete the grey cells that required information.

Beginning Inventory

Units Started this Period

Units to be accounted for

Direct Materials

Conversion Costs

Units in process January

Units completed & transferred out

Ending Inventory

Units accounted for

Direct Materials

Conversion Costs

Beginning Inventory

Current Costs

Total Costs

Equivalent Units

Materials

Conversion

Units completed and transferred out

Work in process, January 31:

Equivalent units of production in work in process

Total Cost

Materials

Conversion

Cost to be accounted for:

Work in process, January 1

Costs added in January

Total Cost

Equivalent units

Cost per equivalent unit