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TI17-1 (similar to) Question Help SemiCom Corporation produces a semiconductor chip used on communications. The direct materials are added at the start production process. SemiCom had no inventory at the start 300,000 f the production process while conversion costs are added uniformly throughout the f $5,000,000, SemiCom started 500,000 chips and complete June. During the month, it incurred direct materials costs of $940,000 and conversion costs f them in June. Ending inventory was 50 % complete as to conversion costs. Compute (a) the equivalent units of work done in June, and (b) the total manufacturing cost per chip. Allocate the total costs between the completed chips and those in ending inventory Compute (a) the equivalent units of work done in June. Enter the physical units in first, then calculate the equivalent units. (Enter a "0" for any zero balances.) Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process, beginning 500,000 Started during current period 500,000 To account for Completed and transferred out during current period: the edit fields and then click Check Answer. Enter any number 500,000 To account for Completed and transferred out during current period: Started and completed 300,000 300,000 300,000 200,000 200,000 100,000 Work in process, ending 500,000 Accounted for 500,000 400,000 Equivalent unts of work done in current period Compute (b) the total manufacturing cost per chip. (Round your answer to the nearest cent.) Begin by calculating cost per equivalent unit for direct materials and conversion costs. Enter any number in the edit fields and then click Check Answer. Direct Conversion Materials Costs Costs added in current period 940,000 $ 5,000,000 400,000 500,000 equivalent units of work done to date Divide by 1.88 $ 12.50 Cost per equivalent unit Finally, assign total costs to units completed (and transferred out) and to units in ending work in process Total Direct Conversion Production Costs Materials Costs Enter any number in the edit fields and then click Check Answer. Finally, assign total costs to units completed (and transferred out) and to units in ending work in process Total Direct Conversion Materials Production Costs Costs Completed and transferred out Work in process, ending Total costs accounted for