Question

Barnett Corporation uses the weighted-average method in its process costing system. The company adds materials at...

Barnett Corporation uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in Department M. Conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1 and 50% complete with respect to the 6,000 units in work in process at May 31. During May, 12,000 units were completed and transferred to the next department. An analysis of the costs relating to work in process at May 1 and to production activity for May follows (Assume materials were 100% complete on both May 1 and May 31):

Materials Conversion

Work in process May 1 $13,800 $3,740

Costs added during May $42,000 $26,260

The total cost per equivalent unit for May was: A) $5.02 B) $5.10 C) $5.12 D) $5.25

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Answer #1
Answer
The Correct Option is B : $5.10
Explanation
The total cost per equivalent unit for May was : $ 5.10
Working

Materials

Conversion Total
Units completed and transferred 12000 12000 12000
Ending work in process 6000 3000 6000
Equivalent units 18000 15000 18000
Total costs $           55,800 $            30,000 $           85,800
Equivalent units 18000 15000
Cost per Equivalent unit 3.1 2 5.1
Therefor ,
Option B is Correct : $ 5.10
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