Percent Complete with Units Respect to Conversion Beginning work in process inventory …….. 3,800 90% Transferred...
| Percent Complete with | |||
| Units | Respect to Conversion | ||
| Beginning work in process inventory | …….. | 3,800 | 90% |
| Transferred in from the prior department during January | …….. | 53,000 | |
| Completed and transferred to the next department during January | …….. | 51,300 | |
| Ending work in process inventory | …….. | 5,500 | 30% |
Parmentier Company uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data above summarize the department's operations in January.
The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $5,096 and a total of $87,668 in conversion costs were incurred in the department during January.
What was the cost per equivalent unit for conversion costs for January in the Molding Department? (Round off to three decimal places.):
| a. |
$1.654 |
|
| b. |
$1.752 |
|
| c. |
$1.490 |
|
| d. |
$1.499 |
Homework Answers
| Equivalent units for conversion | |||||||
| units | % | EUP | |||||
| completed & transferred | 51,300 | 100% | 51,300 | ||||
| ending work in process | 5,500 | 30% | 1650 | ||||
| Equivalent units for conversion | 52,950 | ||||||
| cost per equivalent units for conversion | |||||||
| Beginning work in process | 5,096 | ||||||
| cost added during the year | 87,668 | ||||||
| total cost | 92,764 | ||||||
| Equilvalent units | 52,950 | ||||||
| cost per equivalent units for conversion | 1.752 | ||||||
| answer ) option b | 1.752 | ||||||
Add Answer to:
Percent Complete with
Units
Respect to Conversion
Beginning work in process
inventory
……..
3,800
90%
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