Miller Company had no beginning inventory and adds all materials at the very beginning of its...
Miller Company had no beginning inventory and adds all materials at the very beginning of its only process. Assume 8,000 units were started, and 5,000 units completed. Ending work in process is 80% complete. The cost per equivalent unit of conversion is __________.
Question 9 options:
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Homework Answers
Answer: Option (e) is correct
Explanation:
Equivalent number of units = Units finished * Degree of completion + Ending work in process * Degree of completion
= 5,000 units*100% + 3,000 units*80%
= 5,000 units + 2,400 units
= 7,400 units
As a result,
For conversion cost per equivalent to be equal to $1, the total conversion cost shall amount to $7,400.
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