Explanations for each answer are appreciated.
Homework Answers
Answer =
| Direct material | conversion | ||
| A | equivalent units | 48000 | 60400 |
| B | cost per equivalent units | $3.08 | $4.35 |
Explanation:
| Units to account for | physical units |
| Opening work in progress unit | 20000 |
| Unit started during the period | 48000 |
| Total unit to account for | 68000 |
| Units accounted for | physical units | Equivelent units (material) | equivelent units (conversion cost) |
| Opening work in progress inventory | 20000 | 16000(20000×80%) | |
| Started and completed | 36000 (56000-20000) | 36000 | 36000 |
| Closing work in progress inventory | 12000 (20000 + 48000 - 56000) | 12000 | 8400 (12000×70%) |
| Total units accounted for | 48000 | 60400 | |
| Equivalent units | 48000 | 60400 |
B)
Cost Per Equivalent Units (Material) = Material Cost/Equivalent Units for Material = 148000/48000 = $3.08
Cost Per Equivalent Units (Conversion) = Conversion Cost/Equivalent Units for Conversion = ($117000+146000)/60400 = $4.35
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advance for your help!
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B) For direct materials is 3.20 and for conversion is 4.09.
The assignment said that these were not correct. Thank you in
advance for your help!
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