Calculate the equivalent units of production, Cost Accounting

A company manufactures two products, Product A manufactured in Process Y and Product B manufactured in Process Z. The following information is available for a period:

 

Process Y

Process Z

Opening work-in-progress

nil

nil

Raw materials input

$162,180 (18,000 kg)

$210,090

Conversion costs

$94,050

$287,760

Waste material

1,000 kg (Note 1)

Nil

Sales value of waste material

$1.60 per kg

Nil

Output of finished product

17,000 kg

12,600 units

Closing work-in-progress

Nil

1,500 units (Note 2)

Note 1 - In Process Y the normal amount of waste material is 5% of the weight of raw materials input

Note 2 - In Process Z the closing work-in-progress is 100% complete as to raw material and 60% complete as to conversion costs.

Required

(a)    For Process Y, calculate the:

(i)   cost per kg of the expected production of Product A; and

(ii)  total cost of the finished output of Product A.

(b)   For Process Z, calculate the equivalent units of production of Product B in respect of the conversion cost

Posted Date: 2/26/2013 7:20:11 AM | Location : United States







Related Discussions:- Calculate the equivalent units of production, Assignment Help, Ask Question on Calculate the equivalent units of production, Get Answer, Expert's Help, Calculate the equivalent units of production Discussions

Write discussion on Calculate the equivalent units of production
Your posts are moderated
Related Questions
Vince's Pizza delivers pizzas to dormitories and apartments near a major state university. The company's annual fixed costs are $48,000. The sales price averages $9, and it costs t

1. Issuance of stock Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases: a. Jacks

Park & Morgan, a law firm, is considering opening a legal clinic for midde- and low income clients. The clinic would bill at a rate if $18 per hour. It would employ law students as

Advantages and Disadvantages of Uniform Costing Advantages 1. It enables costs to be compared simply 2. It makes it easier to computerize the accounting system of d

formula for economic order quantity

ANGLE OF INCIDENCE:   It is an angle that is created when the entire sales line intercepts the entire cost line from below in the breakeven chart. It is inferred that higher the an

The Gladys Corporation buys office equipment costing $426,000 on May 12, 2013. In 2015, new and improved models of the equipment make it obsolete, and Gladys sells the old equipme

what are the accounting entries for interlocking and integrated systems of cost accounting?

draw up statements of affairs to show the profit or loss for the year

Walter manufactures a silicone paste wax that goes through three processing departments: cracking, blending, and packing. All raw materials are introduced at the start of work in t