Please explain how you got answer thank you
Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for February 2016 are as follows:
Production data: |
|
In process, beginning of month (20% converted) |
1,000 units |
Started during February |
5,000 units |
Completed and transferred to finished goods |
4,500 units |
In process, end of month (60% converted) |
1,500 units |
Manufacturing costs: |
|
Work in process, beginning (Direct Materials $3,000; Conversion Costs: $18,360) |
$21,360 |
Direct Materials added during peroid |
$45,000 |
Conversion Costs added during peroid |
$154,440 |
|
Required:
Calculate the Following using the weighted average method:
Equivalent Units of Production for Direct materials |
(Do not enter commas in answer for example 5,000 should be entered as 5000) |
Equivalent Units of Production for Conversion Costs |
(Do not enter commas in answer for example 5,000 should be entered as 5000) |
Cost per Equivalent Unit – Direct Materials |
$ (Round to 2 decimal places) |
Cost per Equivalent Unit – Conversion Costs |
$ (Round to 2 decimal places) |
Total value of units transferred out |
$.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000) |
Total value of Ending Inventory |
$.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000) |
Answer:
Equivalent Units of Production for Direct materials | 6000 |
Equivalent Units of Production for Conversion Costs | 5400 |
Cost per Equivalent Unit – Direct Materials | $ 8.00 |
Cost per Equivalent Unit – Conversion Costs | $ 32.00 |
Total value of units transferred out | $ 180000.00 |
Total value of Ending Inventory | $ 40800.00 |
Working Note:
Statement of Equivalent Production | ||||||
Input | Particulars | Output | Material | Conversion cost | ||
% | Units | % | Units | |||
6,000.00 | Put and processed | 4,500.00 | 100% | 4,500.00 | 100% | 4,500.00 |
Closing stock | 1,500.00 | 100% | 1,500.00 | 60% | 900.00 | |
6,000.00 | Total | 6,000.00 | 6,000.00 | 5,400.00 | ||
Costs: | ||||||
Opening | $ 3,000 | $ 18,360 | ||||
February | $ 45,000 | $ 154,440 | ||||
Total | $ 48,000 | $ 172,800 | ||||
Cost per unit | $ 8.00 | $ 32.00 |
Value of Put and processed | |
Material | $ 36,000.00 |
Conversion cost | $ 144,000.00 |
Total | $ 180,000.00 |
Value of Closing Stock | |
Material | $ 12,000.00 |
Conversion cost | $ 28,800.00 |
Total | $ 40,800.00 |
In case of any doubt, please comment.
Please explain how you got answer thank you Suburbia Company manufactures a product through a continuous...
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