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 (Direct Materials $3,000; Conversion Costs: $18,360) | $21,360 |
Direct Materials added during peroid | $45,000 |
Conversion Costs added during peroid | $154,440 |
|
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 | $.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000) |
Total value of Ending Inventory | $.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000) |
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