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Compute the cost per equivalent unit for fifo methods

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Question - Please provide the formulas and calculations.

Pablo Company calculates the cost for an equivalent unit of production using process costing.

Data for June

 

Work-in-process inventory, June 1 : 16,000 units

 

Direct materials: 100% complete

$32,000

Conversion: 40% complete

12,800

Balance in work-in-process, June 1

$44,800

Units started during June

39,200

Units completed and transferred out

39,200

Work-in-process inventory, June 30

16,000

Direct materials: 160% complete

 

Conversion: 80% complete

 

Costs Incurred during June

 

Direct materials

$90,160

Conversion Costs

 

Direct labor

90,160

Applied overhead

121,520

Total conversion costs

$211,680

Required: Compute the cost per equivalent unit for both the weighted-average and FIFO methods.

Reference no: EM132224889

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