The Lakeside Company uses a weighted-average process costing system. The following data are available:
Beginning inventory | -0- | ||
Units started in production | 20,400 | ||
Units finished during the period | 16,200 | ||
Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) |
4,200 |
||
Cost of materials used | $ | 37,370 | |
Labor and overhead costs | $ | 39,675 | |
Cost per equivalent unit of labor and overhead is:
$2.07.
$1.94.
$2.30.
$2.45.
Cost per Equivalent Unit of Production | |||||
Conversion | |||||
During the month costs | $ 39,675.00 | ||||
Total cost | Costs | $ 39,675.00 | |||
÷ | Equivalent units of production | EUP | 17250 | ||
Cost per equivalent unit of production | $ 2.30 |
Answer: $ 2.30
Workings:
Equivalent Units of Production (EUP) - Weighted Average Method | ||||||
Units | % Conv. | EUP- Conv. | ||||
Units completed and transferred out | 16200 | 100% | 16200 | |||
Units in ending inventory | 4200 | 25% | 1050 | |||
Equivalent units of production | 17250 |
Note: Labor + Overhead = Conversion Cost
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Equivalent units of production for labor and overhead are: Multiple Choice 20,000. 17,000. 16,000. 19,000.
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 23,000 Units finished during the period 17,500 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 5,500 Cost of materials used $ 53,750 Labor and overhead costs $ 55,755 Cost per equivalent unit of materials is: $2.95. $2.66. $2.42. $2.34.
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 23,800 Units finished during the period 17,900 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 5,900 Cost of materials used $ 59,130 Labor and overhead costs $ 61,110 Cost per equivalent unit of materials is: Multiple Choice $2.48. $2.57. $3.15. $2.82.
The Lakeside Company uses a weighted average process costing system. The following data are available: 22,800 17,400 Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs 5,400 $52,430 $45,060 Cost per equivalent unit of materials is: Multiple Choice O $2.30. O O $2.40. O $2.21. O $198.
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,200 Units finished during the period 16,100 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,100 Cost of materials used $ 36,180 Labor and overhead costs $ 41,100 Total cost of the 16,100 units finished is: Multiple Choice $67,477. $71,772. $77,319. $66,852.
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 24,000 Units finished during the period 17,900 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 6,100 Cost of materials used $ 60,500 Labor and overhead costs $ 62,480 Total cost of the 17,900 units finished is: Multiple Choice $102,698. $111,447. $123,011. $109,467.
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Total cost of the 4,000 units of the ending inventory: Multiple Choice $9,240. $14,520. $8,910. $15,840.
The Lakeside Company uses a weighted average process costing system. The following data are available: 23,200 17,500 Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs 5,700 $55,080 $57,075 Total cost of the 17,500 units finished is:
The Lakeside Company uses a welghted-average process costing system. The following data are available: -- 23,800 17,800 Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs 6,000 $59,130 $61,110 Total cost of the 17,800 units finished is: Multiple Choice $109,060. $107,080. $120,272. $100,584
The Lakeside Company uses a welghted-average process costing system. The following data are available: -0- 20,000 16,000 Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs 4,000 $35,200 $37,400 Total cost of the 4,000 units of the ending Inventory: Multiple Choice $9,240. $14,520. $8.910. $15,840.