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Correct option is: B. $114,904 | ||||||
Workings: | ||||||
Equivalent Units of production - weighted average method | Units | % Materials | EUP - Materials | % Conversion | EUP - Conversion | |
(i) | (ii) | (i) X (ii) | (iii) | (i) X (iii) | ||
Units completed and transferred out (3400 + 21000 -3200) | 21,200 | 100% | 21,200 | 100% | 21,200 | |
Add: | Ending work - in - process inventory units | 3,200 | 100% | 3,200 | 20% | 640 |
Total EUP | 24,400 | 24,400 | 21,840 | |||
Total Cost: | ||||||
Direct material | $4700 + $32600 | = | $ 37,300 | |||
Conversion | $6200 + $78700 | = | $ 84,900 | |||
Choose numerator | / | Choose denominator | ||||
Total Cost | / | Equivalent units | = | Cost per equivalent unit of production | ||
Direct material | $ 37,300 | / | 24,400 | = | $ 1.53 | |
Conversion | $ 84,900 | / | 21,840 | = | $ 3.89 | |
Costs of units transferred out | ||||||
Direct material (21200 units X $1.53) | $ 32,436 | |||||
Add: | Conversion (21200 units X $3.89) | $ 82,468 | ||||
Total Costs of units transferred out | $ 1,14,904 |
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