Zee Corporation had 3,600 units one-third completed at the beginning of the period, 12,000 units were completed and transferred during the period, 2,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period:
Work in process, beginning of period ($8 per unit for Direct Materials): $37,200
Costs added during period:
Direct materials $83,200
Direct labor 62,000
Factory overhead 24,800
Assume that all direct materials are placed in process at the beginning of production and Zee Corporation uses FIFO method of inventory costing.
What is the DM cost/equivalent unit of the period?
Select one:
a. $6.75
b. $8.00
c. $7.75
d. $7.00
Units started = Units completed + Units in ending inventory - Units in beginning inventory
= 12,000 + 2,000 - 3,600
= 10,400
DM cost/equivalent unit = $83,200 / 10,400
= $8
Option b.
Zee Corporation had 3,600 units one-third completed at the beginning of the period, 12,000 units were...
Zee Corporation had 3,600 units one-third completed at the beginning of the period, 12,000 units were completed and transferred during the period, 2,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period ($8 per unit for Direct Materials): $37,200 Costs added during period: Direct materials $83,200 Direct labor 62,000 Factory overhead 24,800 Assume that all direct...
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Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period; 3,000 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $40,000 Costs added during period: Direct materials (10,400 units at $8) 83,200 Direct labor 63,000 Factory overhead 25,000 All direct materials are placed in process at the...
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