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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: 30,000 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: 30,000 units | |
Direct materials: 100% complete | $ 60,000 |
Conversion: 40% complete | 25,000 |
Balance in work-in-process, June 1 | $ 85,000 |
Units started during June | 70,000 |
Units completed and transferred out | 70,000 |
Work-in-process inventory, June 30 | 30,000 |
Direct materials: 100% complete | |
Conversion: 80% complete | |
Costs incurred during June | |
Direct materials | $ 122,500 |
Conversion costs | |
Direct labor | 119,720 |
Applied overhead | 179,580 |
Total conversion costs | $ 299,300 |
Required:
1. Compute the costs per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)
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