Find cost per equivalent unit under weighted average

Assignment Help Cost Accounting

Reference no: EM132771111

Opening inventory of work in process:

The following data for the month of September were taken form the cost records of Department 1 of Pro-Life products which uses process costing system:

Units - 500 (with all materials added and 50% of labor and overhead)

Cost - Materials 2, 400

Labor 1, 500

Factory overhead 760

Put into production:

Units - 5, 000

Costs - Materials 25, 100

Labor 19, 380

Factory overhead 14, 900

Completed and transferred - 4, 800 units

Ending inventory of work in process:

Units - 700 (with all materials, and 60% of labor and overhead)

Problem 1: The cost per equivalent unit (rounded to nearest centavo) under FIFO: (Add Cost per unit of materials and conversion)

Problem 2: The cost per equivalent unit (rounded to nearest centavo) under weighted average: Add Cost per unit of materials and conversion)

Reference no: EM132771111

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