E3 16 Calculating Equivalent Units, Unit Costs, and Cost Assigned (Weighted Average Method) LO 3 3 Vista Vacuum Company has the following production information for the month of March All materials are added at the beginning of the manufacturing process Units Beginning inventory of 4,800 units that are 100 percent complete for materials and 28 percent complete for conversion 14,100 units started during the period Ending inventory of 4,000 units that are 19 percent complete for conversion Manufacturing Costs Beginning inventory was $21,700 ($10,500 materials and $11,200 conversion costs) Costs added during the month were $29,300 for materials and $47,600 for conversion ($27,300 labor and $20,300 applied overhead) Required 1 Calculate the number of equivalent units of production for materials and conversion for March 2 Calculate the cost per equivalent unit for materials and conversion for March (Round your answers to 5 decimal places ) 3 Determine the costs to be assigned to the units transferred out and the units in process (Use Cost per Equivalent Unit rounded to 5 decimal places )

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 30, 2024

E3-16 Calculating Equivalent Units, Unit Costs, and Cost Assigned (Weighted-Average Method) [LO 3-3] Vista Vacuum Company has the following production information for the month of

E3-16 Calculating Equivalent Units, Unit Costs, and Cost Assigned (Weighted-Average Method) [LO 3-3]

Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process.

Units
	Beginning inventory of 4,800 units that are 100 percent complete for materials and 28 percent complete for conversion.
	14,100 units started during the period.
	Ending inventory of 4,000 units that are 19 percent complete for conversion.
Manufacturing Costs
	Beginning inventory was $21,700 ($10,500 materials and $11,200 conversion costs).
	Costs added during the month were $29,300 for materials and $47,600 for conversion ($27,300 labor and $20,300 applied overhead).

Required:

1.	Calculate the number of equivalent units of production for materials and conversion for March.

2.	Calculate the cost per equivalent unit for materials and conversion for March. (Round your answers to 5 decimal places.)

3.	Determine the costs to be assigned to the units transferred out and the units in process. (Use Cost per Equivalent Unit rounded to 5 decimal places.)