PepsiCo, Inc. uses process costing for its beverage production. The following information is provided for the month of October 2024:
•Beginning Work in Process: 7,000 units (90% complete)
•Units started: 18,000 units
•Ending Work in Process: 6,000 units (100% complete)
•Costs: Beginning WIP ($35,000), Added during the month ($315,000)
Required:
1.Calculate the equivalent units of production for October.
2.Determine the cost per equivalent unit.
3.Prepare the cost reconciliation for October.