Requirement:
a.
Total Conversion cost | $ 299,840 |
Working:
Total Conversion cost = Direct labor + Factory overhead |
Direct labor | $ 242,870 |
Factory overhead | $ 56,970 |
Total Conversion cost | $ 299,840 |
b.
Conversion cost per equivalent unit | $ 1.60 | Per unit |
Working:
Equivalent units of Conversion = Units completed and transferred out + (units in ending WIP*percentage completion with respect to conversion) |
Units completed and transferred | 181000 |
Units in ending WIP | 16000 |
% completion with respect to conversion [ 2/5*100] | 40.00% |
Equivalent units of conversion | 187400 |
Conversion cost per equivalent unit: | ||
Total conversion cost | $ 299,840 | |
Equivalent units of conversion | 187400 | |
Conversion cost per equivalent unit | $ 1.60 | Per unit |
c.
Direct materials cost per equivalent unit | $ 4.60 | Per unit |
Working:
Equivalent units of material = Units completed and transferred out + (units in ending WIP*percentage completion with respect to conversion) |
Units completed and transferred | 181000 |
Units in ending WIP | 16000 |
% completion with respect to conversion [ 2/5*100] | 100.00% |
Equivalent units of conversion | 197000 |
Material cost per equivalent unit: | ||
Direct materials incurred | $ 906,200 | |
Equivalent units of conversion | 197000 | |
Direct materials cost per equivalent unit | $ 4.60 | Per unit |
Costs per Equivalent Unit Georgia Products Inc. completed and transferred 181,000 partice board units of production...
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