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Dandy Company Pvt (Lid) on May 1, 2018, had a work in process inventory of 10,000 units. The units were 100% complete for material valued
Dandy Company Pvt (Lid) on May 1, 2018, had a work in process inventory of 10,000 units. The units were 100% complete for material valued at $20,000. The units were also 30% complete for labour and manufacturing overhead valued at $7,000. During the month 150,000 units were completed and transferred to finished goods. The ending work in process inventory on May 31, 2018 consisted of 10,000 units. These units were 100% complete for materials and 80% complete for labour and manufacturing, and overhead. Cost added during the month were $340,000 for materials and $500,000 for labour and overhead. Required: Calculate the following under weighted average cost: A. Equivalent units. (5 Marks) B. Unit cost for materials. (5 Marks) C. Unit cost for labour and overhead, 5 Marks) D. The dollar value of goods transferred to finished goods. (5 Marks) E. The dollar value of ending work in process
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