Cost per Equivalent Unit; Weighted-Average
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November
Work in process on November 1 |
|
Direct material | $ 65,000 |
Conversion | 180,000 |
Costs incurred during November: |
|
Direct material | $ 425,000 |
Conversion | 690,000 |
The equivalent units of activity for November were as follows 7.000 equivalent units of direct material and 1,740 equivalent units of conversion activity
Required: Calculate the cost per equivalent unit for both direct material and conversion. during November. Use weighted-average process costing.
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