Logan Chemical Company produces a chemical agent for commercial use. The company accounts for production in...

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Logan Chemical Company produces a chemical agent for commercial use. The company accounts for production in two departments:

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Answer 1

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Requirement 1

EUP - Weighted Average Method	Units	% Material	EUP Materials	% Conversion	EUP - Conversion
Units TRANSFERRED	17,000	100%	17,000	100%	17,000
Units of ENDING WIP	4,000	100%	4,000	60%	2,400

Equivalent Units of Production			21,000		19,400

Requirement 2

COST per EUP		Material		Conversion
Cost of Beginning WIP		$ 4,200.00		$ 760.00
Cost incurred during the period		$ 92,400.00		$ 40,950.00
Total Costs	Costs	$ 96,600.00	Costs	$ 41,710.00
Equivalent units of production	EUP	21,000	EUP	19,400
Cost per EUP		$ 4.60000		$ 2.15000

Requirement 3

*Cost of ending WIP*	EUP	Cost per EUP	Total Cost
- Direct Materials	4,000	$ 4.60	$ 18,400.00
- Conversion	2,400	$ 2.15	$ 5,160.00
Total cost of ending WIP				$ 23,560.00

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