Question
Kursty Corporation uses the weighted-average method in its process costing system. The following data were taken from the records of the first processing department for
| Kursty Corporation uses the weighted-average method in its process costing system. The following data were taken from the records of the first processing department for a recent month. | ||
| Work in process, beginning: | ||
| Units in process | 400 | |
| Percent complete with respect to materials | 60% | |
| Percent complete with respect to conversion | 50% | |
| Costs in the beginning inventory: | ||
| Materials cost | $6,200 | |
| Conversion cost | $68,425 | |
| Units started into production during the month | 1,190 | |
| Costs added to production during the month: | ||
| Materials cost | $53,040 | |
| Conversion cost | $120,106 | |
| Work in process, ending: | ||
| Units in process | 300 | |
| Percent complete with respect to materials | 50% | |
| Percent complete with respect to conversion | 40% | |
| Required: Show your work. |
| |
| a. Compute the equivalent units of production. | ||
| b. Compute the cost per equivalent units for materials and for conversion costs. | ||
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