Question
Wyman Corporation. has the following information for May: Beginning Work in Process Inventory (75% complete as to conversion) 7,500 units Started 27,000 units Ending Work
- Wyman Corporation. has the following information for May:
| Beginning Work in Process Inventory (75% complete as to conversion) | 7,500 units |
|
Started | 27,000 units |
| Ending Work in Process Inventory (15% complete as to conversion) | 9,400 units
|
| Beginning WIP Inventory Costs: |
|
| Material | $25,500 |
| Conversion | 52,725
|
| Current Period Costs: |
|
| Material | $34,300 |
| Conversion | 80,845 |
Note: all material is added at the start of the process and all finished products are transferred out.
1). How many units were transferred out in May?
2) What is the equivalent unit for direct materials and conversion, respectively?
3). Assume that weighted average process costing is used. What is the cost per equivalent unit for material? And what is the cost per equivalent unit for conversion?
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Family Child Care Audit Manual Strategies For Protecting Your Business In An IRS Audit RedLeaf Business Series
Authors: Tom Copeland
1st Edition
1929610211, 978-1929610211
