Question
South river manufactures a product called Logo. Direct materials are added at the beginning of the process and conversion activity occurs uniformly throughout the process.
South river manufactures a product called Logo. Direct materials are added at the beginning of the process and conversion activity occurs uniformly throughout the process. The following data pertain to the month of March.
Units | |
Work in process 1st March (60% complete) | 6,000 |
Units started during March | 52,000 |
Work in process 31st March (40% complete) | 12,000 |
Costs incurred | ||
Direct materials | Conversion costs | |
Work in process 1st March (60% complete) | $15,750 | $24,810 |
Costs incurred during March | $123,450 | $132,670 |
1) Using the weighted average method of process costing, calculate the equivalent units of direct materials for the month of March. 2) Using the weighted average method of process costing, calculate equivalent units of conversion activity for the month of March. 3)Using the weighted average method of process costing, calculate the cost per equivalent unit of direct materials for the month of March. 4) Using the weighted average method of process costing, calculate the cost per equivalent unit of conversion activity for the month of March. 5) Using the weighted average method of process costing, calculate the cost of goods completed and transferred during March 6) Using the weighted average method of process costing, calculate the total cost remaining in work in process on March 31st.
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