Question

Need help answering the questions below

Exercise 4-9 Equivalent Units and Cost per Equivalent Unit-Weighted-Average Method [LO42, L043) Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow Work in process inventory, beginning 63,000 54,400 $ 22,100 26,900 Units started in process Units transferred out Work in process inventory, ending Cost added during the month 599,000 620,000 42,000 $ 719,840 $272,760 $ 332,060 The beginning work in process inventory was 80% complete with respect to materials and 65% complete with respect to labor and overhead. The ending workin process inventory was 60% complete with respect to materials and 50% complete with respect to labor and overhead. Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month 2. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Materials Labor Overhead 705,200 692,600 686,300 s 1 10 S 043S 052 Equivalent units of 2. Cost per equivalent unit

Answer 1

solution 1.Equivalent units of production -weighted average Units | % Material | EUP-Material | 96 Labor | EUP-Labor % overhead EUP-Overhead e-a d g-a*f Units completed and transferred out Units of ending goods in process Equivalent units of production 620,000 42,000 100% 6096 620,000| 25.200| 645,200 100%) 5096| 620,000 21,000 641,000 100% 620,000 21,000 641,000 50% 2.Cost per equivalent unit of production Cost of beginning goods in process Costs incurred this period Total costs ÷ Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals Material Labor Overhead 54400 22,100 26,900 358960 Costs EUP 774240lCosts 294860 Costs 641,000 EUP 645,200 EUP 641,000 1.20 0.46 0.56 EUP -Equivalent units of production 커 , Sheet1 194. Sheet1 195- Sheet1 196 Sheet1 197 Sheet1 198 Sheet1 199 Sheet1200 Sheet!201 ENG14:2 US 29/01/2019