Question

Requirement 2. Compute the cost per equivalent unit. (For entries with a $0 balance, make sure to enter "O' in the appropriate column. Enter the cost per equivalent unit to two decimal places) Assembly Department Cost per Equivalent Unit Month Ended September 30 Direct Conversion Materials Costs Cost per equivalent unit Requirement 3. Assign the costs to units completed and transferred out and ending work in process inventory. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding stop.) Assembly Department Month Ended September 30 Assigning Costs Direct Conversion Materials Costs Total Completed and transferred out: Ending work in process: Total costs accounted for

Answer 1

1	Equivalent Unit Computation
Flow of Production	Flow of Physical Unit	Direct Material	Conversion Cost
Completed & Transferred Out		24,000	24,000	24,000
Add : Ending Work in Progress Sep 30		6,000	1,800	4,800
Total Physical Units accounted for		30,000
Total Equivalent Units			25,800	28,800
2	Cost per Equivalent Unit
				Direct Material	Conversion Cost
Total Equivalent Units			25,800	28,800
Total Cost				13,674	48,960
Cost per Equivalent Unit			0.53	1.70
3	Assigning Cost
				Direct Material	Conversion Cost	Total
Completed & Transferred Out			12,720	40,800	53,520
Add : Ending Work in Progress Sep 30			954	8,160	9,114
Total Cost				13,674	48,960	62,634
4	Journal Entry
Date	Accounts			Debit	Credit
30-Sep	WIP Testing A/c   Dr.			53,520
	To Inventory Assembly A/c			53,520
5	Work in Process Inventory Assembly A/c
Date	Particulars	Amount	Date	Particulars	Amount
30-Sep	To Direct Material A/c	954	30-Sep	By Balance c/d	9,114
30-Sep	To Conversion Cost A/c	8,160
		9,114			9,114