Homework Answers
1) Analysis of physical unit
| Units to account for | |
| Beginning inventory | 60000 |
| Unit started | 200000 |
| Total units to account for | 260000 |
| Units accounted as | |
| Unit completed and transferred out | 200000 |
| Ending inventory | 60000 |
| Total units accounted as | 260000 |
2) Equivalent unit
| Physical Unit | direct material | Conversion | |
| Unit transferred out | 200000 | 200000 | 200000 |
| Ending WIP | 60000 | 60000 | 60000*60% = 36000 |
| Total units accounted for | 260000 | ||
| Total equivalent unit | 260000 | 236000 |
3) Cost per equivalent unit
| Direct material | Conversion | Total | |
| Beginning WIP | 183500 | 128600 | 312100 |
| Cost added | 492500 | 343400 | 835900 |
| Total Cost | 676000 | 472000 | 1148000 |
| Equivalent unit | 260000 | 236000 | |
| Cost per equivalent unit | 2.60 | 2 | 4.60 |
4) Cost reconciliation
| Number of equivalent unit | Cost per equivalent unit | Total Cost | |
| Cost of goods completed and transferred | 200000 | 4.60 | 920000 |
| Direct material (ending WIP inventory) | 60000 | 2.60 | 156000 |
| Conversion (ending WIP inventory) | 36000 | 2 | 72000 |
| Total cost accounted for | 1148000 | ||
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