Ultra company uses a process cost accounting system and the weighted average method for inventory costs. The
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Ultra company uses a process cost accounting system and the weighted average method for inventory costs. The following information is available regarding direct labor for the current year: Works in process,
January 1 6,000 units, 80% complete
Works in process, December 31 11,800 units, 55% complete
Units completed and transferred to finished goods 58,900 units
Direct labor costs during the year $278,300
(a) Calculate the equivalent units of production for direct labor for the year. (b) Calculate the average cost per equivalent unit for direct labor (round to the nearest cent).
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