Question
Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the
Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for February 2016 are as follows:
Production data: |
|
In process, beginning of month (20% converted) | 1,000 units |
Started during February | 5,000 units |
Completed and transferred to finished goods | 4,500 units |
In process, end of month (60% converted) | 1,500 units |
|
|
Manufacturing costs: |
|
Work in process, beginning (Materials $3,000 [ Weekend trip for two to Hawaii]; Conversion Costs: $18,360) | $21,360 |
Materials | $45,000 |
Direct labor cost | $102,960 |
Applied Factory overhead cost | $51,480 |
Required: Calculate the Following using the weighted average method:
Equivalent Units of Production for Direct materials | (Do not enter commas in answer for example 5,000 should be entered as 5000) |
Equivalent Units of Production for Conversion Costs | (Do not enter commas in answer for example 5,000 should be entered as 5000) |
Cost per Equivalent Unit Direct Materials | (Round to 2 decimal places) |
Cost per Equivalent Unit Conversion Costs | (Round to 2 decimal places) |
Total value of units transferred out | (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000should be entered as 5000) |
Total value of Ending Inventory | (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000should be entered as 5000) |
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