Question
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Superior Micro Products uses the FIFO method in its process costing system. Data for the Assembly...
Superior Micro Products uses the FIFO method in its process costing system. Data for the Assembly Department for May appear below:
| Materials | Labor | Overhead | ||||
| Cost added during May | $ | 76,845 | $ | 37,170 | $ | 122,850 |
| Equivalent units of production | 14,100 | 12,600 | 12,600 | |||
Required:
Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)
Solutions
Expert Solution
| Material | Labor | Overhead | ||
| Cost per equivalent unit | $ 5.45 | $ 2.95 | $ 9.75 | |
| Workings: | ||||
| Material | Labor | Overhead | ||
| (i) | Work in process, May 1 | $ - | $ - | $ - |
| (ii) | Cost added during May | $ 76,845 | $ 37,170 | $ 1,22,850 |
| (iii) | Total cost | $ 76,845 | $ 37,170 | $ 1,22,850 |
| (iv) | Equivalent units | 14,100 | 12,600 | 12,600 |
| (iii) / (iv) | Cost per equivalent unit | $ 5.45 | $ 2.95 | $ 9.75 |
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ekkarill92 answered 1 year agoRelated Solutions
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly...
Superior Micro Products uses the weighted-average method in its
process costing system. Data for the Assembly Department for May
appear below:
Materials
Labor
Overhead
Work in process, May 1
$
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$
17,361
$
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Cost added during May
$
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$
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$
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Equivalent units of production
1,000
900
800
Required:
Compute the cost per equivalent unit for materials, labor,
overhead, and in total. (Round your answers to 2 decimal
places.)
Materials
Labor
Overhead
Total
Cost per equivalent...
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly...
Superior Micro Products uses the weighted-average method in its
process costing system. Data for the Assembly Department for May
appear below:
Materials
Labor
Overhead
Work in process, May
1
$
12,800
$
19,350
$
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Cost added during May
$
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$
12,900
$
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Equivalent units of
production
1,100
1,000
900
Required:
Compute the cost per equivalent unit for materials, labor,
overhead, and in total. (Round your answers to 2 decimal
places.)
QUESTION1) Materials:
QUESTION2) Labor:
QUESTION3) Overhead:
QUESTION4)...
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly...
Superior Micro
Products uses the weighted-average method in its process costing
system. Data for the Assembly Department for May appear below:
Materials
Labor
Overhead
Work
in process, May 1
$
33,200
$
54,999
$
267,774
Cost
added during May
$
201,580
$
36,666
$
178,516
Equivalent units of production
2,800
2,700
2,600
Required:
1.
Compute the cost per
equivalent unit for materials, for labor, and for overhead.
(Round your answers to 2 decimal places.)
Materials
Labors Overhead
Cost...
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta...
Superior Micro Products uses the weighted-average method in its
process costing system. During January, the Delta Assembly
Department completed its processing of 26,600 units and transferred
them to the next department. The cost of beginning work in process
inventory and the costs added during January amounted to $726,104
in total. The ending work in process inventory in January consisted
of 3,800 units, which were 80% complete with respect to materials
and 60% complete with respect to labor and overhead. The...
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta...
Superior Micro Products uses the weighted-average method in its
process costing system. During January, the Delta Assembly
Department completed its processing of 26,600 units and transferred
them to the next department. The cost of beginning work in process
inventory and the costs added during January amounted to $702,315
in total. The ending work in process inventory in January consisted
of 3,900 units, which were 50% complete with respect to materials
and 30% complete with respect to labor and overhead. The...
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta...
Superior Micro
Products uses the weighted-average method in its process costing
system. During January, the Delta Assembly Department completed its
processing of 25,600 units and transferred them to the next
department. The cost of beginning work in process inventory and the
costs added during January amounted to $690,168 in total. The
ending work in process inventory in January consisted of 2,400
units, which were 70% complete with respect to materials and 50%
complete with respect to labor and overhead. The...
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta...
Superior Micro Products uses the weighted-average method in its
process costing system. During January, the Delta Assembly
Department completed its processing of 26,400 units and transferred
them to the next department. The cost of beginning work in process
inventory and the costs added during January amounted to $666,408
in total. The ending work in process inventory in January consisted
of 2,600 units, which were 80% complete with respect to materials
and 60% complete with respect to labor and overhead. The...
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta...
Superior Micro Products uses the weighted-average method in its
process costing system. During January, the Delta Assembly
Department completed its processing of 26,400 units and transferred
them to the next department. The cost of beginning work in process
inventory and the costs added during January amounted to $663,852
in total. The ending work in process inventory in January consisted
of 2,100 units, which were 80% complete with respect to materials
and 60% complete with respect to labor and overhead. The...
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta...
Superior Micro Products uses the weighted-average method in its
process costing system. During January, the Delta Assembly
Department completed its processing of 25,200 units and transferred
them to the next department. The cost of beginning work in process
inventory and the costs added during January amounted to $671,100
in total. The ending work in process inventory in January consisted
of 3,000 units, which were 60% complete with respect to materials
and 40% complete with respect to labor and overhead. The...
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta...
Superior Micro Products uses the weighted-average method in its
process costing system. During January, the Delta Assembly
Department completed its processing of 25,400 units and transferred
them to the next department. The cost of beginning inventory and
the costs added during January amounted to $670,076 in total. The
ending inventory in January consisted of 3,200 units, which were
70% complete with respect to materials and 50% complete with
respect to labor and overhead. The costs per equivalent unit for
the...
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