Question
Materials are added at the beginning of the production process at Campo Company. Campo uses a FIFO process costing system. The following information on the
Materials are added at the beginning of the production process at Campo Company. Campo uses a FIFO process costing system. The following information on the physical flow of units is available for the month of November:
Beginning work in process (70% complete) | 90,000 | |
Started in November | 1,020,000 | |
Completed in November and transferred out | 960,000 | |
Ending work in process (40% complete) | 150,000 | |
Cost data for November show the following:
Beginning WIP inventory | |||
Direct materials costs | $ | 35,670 | |
Conversion costs | 110,630 | ||
Current period costs | |||
Direct materials costs | $ | 408,330 | |
Conversion costs | 1,521,370 | ||
Required:
a. Compute the cost equivalent units for the conversion cost calculation assuming Campo uses the weighted-average method.
equivalent units :
b. Compute the cost per equivalent unit for materials and conversion costs for November. (Round your answers to 2 decimal places.)
materials costs :
conversion costs:
Step by Step Solution
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There are 3 Steps involved in it
Step: 1
a The cost equivalent units for the conversion cost Equivalen...Get Instant Access to Expert-Tailored Solutions
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Step: 2
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