Calculate the cost per equivalent unit for direct materials

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Reference no: EM131977362

Problem

XYZ Company uses process costing to track its costs in two sequential production departments: Forming and Finishing. The following information is provided regarding the Forming department.

Forming Department Month Ended June 30

Unit information Beginning work in process, June 1 --- 6,000 units

Started into production during June --- 30,000 units Completed and transferred to Finishing Department during June ---

22,000 units Ending work in process, June 30 --- 14,000 units (25% complete as to direct materials and 40% complete as to conversion costs)

Cost information Beginning work in process as of June 1 consists of $10,000 of direct materials costs and $5,500 of conversion costs --- total: $15,500 Direct materials used in June --- $27,000 Conversion costs incurred in June --- $14,850 Please answer both of the following questions and show your calculation work:

(a) Calculate the number of total equivalent units for direct materials.

(b) Calculate the cost per equivalent unit for direct materials.

Reference no: EM131977362

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