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Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 10,000 units Direct materials:
Pablo Company calculates the cost for an equivalent unit of production using process costing. |
Data for June | |||
Work-in-process inventory, June 1: 10,000 units | |||
Direct materials: 100% complete | $ | 21,000 | |
Conversion: 40% complete | 8,000 | ||
Balance in work-in-process, June 1 | $ | 29,000 | |
Units started during June | 26,000 | ||
Units completed and transferred out | 26,000 | ||
Work-in-process inventory, June 30 | 10,000 | ||
Direct materials: 100% complete | |||
Conversion: 80% complete | |||
Cost incurred during June | |||
Direct materials | $ | 44,200 | |
Conversion costs | |||
Direct labor | 44,200 | ||
Applied overhead | 65,000 | ||
Total conversion costs | $ | 109,200 | |
Required: | |
1. | Compute cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 4 decimal places.)
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