Reference no: EM132520431
Polson Enterprises produces strawberry gelato. Output is measured in quarts. Polson uses the weighted average method. During July, Polson had the following production data:
Units in process, July 1, 60% complete 54,000 quarts
Units completed and transferred out 360,000quarts
Units in process, July 31, 40% complete 112,500quarts
Costs:
Work in process, July 1 $ 81,000
Costs added during July 526,500
Required:
Question 1: Using the weighted average method, calculate the equivalent units for July.
Question 2: Calculate the unit cost for July.
Question 3: Assign costs to units transferred out and EWIP.
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