Georgia Products Inc. completed and transferred 190,000 particleboard units of production from the Pressing Department. There...

Georgia Products Inc. completed and transferred 190,000 particleboard units of production from the Pressing Department. There was no beginning inventory in process in the department. The ending in-process inventory was 16,000 units, which were 3/5 complete as to conversion cost. All materials are added at the beginning of the process. Direct materials cost incurred was $566,500, the direct labor cost incurred was $258,680, and factory overhead applied was $60,680.

Determine the following for the Pressing Department. Round "cost per equivalent unit" answers to the nearest cent.

A. Total conversion cost

B. Conversion cost per equivalent unit

C. Direct materials cost per equivalent unit

Solutions

Expert Solution

Solution

A. Total conversion cost= 319,360

B. Conversion cost per equivalent unit= $1.60 perunit

C. Direct materials cost per equivalent unit = $2.75 per unit

Working

Statement of Equivalent Units(Weighted average)
		Material		Conversion
	Units	Complete %	Equivalent units	Complete %	Equivalent units
Transferred out	190,000	100%	190,000	100%	190,000
Ending WIP	16,000	100%	16,000	60%	9,600
Total	206,000	Total	206,000	Total	199,600

Cost per Equivalent Units (Weighted average)
COST	Material	Conversion	TOTAL
Beginning WIP Inventory Cost (A)			$ 0
Cost incurred during period (B)	$ 566,500	$ 319,360	$ 885,860
Total Cost to be accounted for (C=A+B)	$ 566,500	$ 319,360	$ 885,860
Total Equivalent Units(D)	206,000	199,600
Cost per Equivalent Units (E=C/D)	$ 2.75	$ 1.60	$ 4.35

ekkarill92 answered 1 year ago

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