Department F had 4,000 units in Work in Process that were 40% completed at the beginning...

Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $14,100. Of the $14,100, $8,700 was for material and $5,400 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $27,100. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $31,100 and factory overhead was $19,300.

If the average cost method is used, the materials cost per unit (to the nearest cent) would be

a.$1.99

b.$2.08

c.$1.63

d.$2.98

Expert Solution

Solution:
given that
Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $14,100.
Of the $14,100, $8,700 was for material and $5,400 was for conversion costs.
14,000 units of direct materials were added during the period at a cost of $27,100.
15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period.
All materials are added at the beginning of the process. Direct labor was $31,100 and factory overhead was $19,300.
Conversion cost per unit if average cost method is used :

units completeed = 15000 + 75% of 3000 (Work in progress at the end of the period)

units completed = 14000 + 2250 units

units completed = 16250 units

Total conversion cost for 16250 units = $5400 ( conversion cost at the begening of the period ) + $31100 (Direct labor for the period ) + $19300 ( factory overhead for the period )

Total conversion cost for 16250 units = $55800

Conversion cost per unit = $55800 / 16250

Conversion cost per unit = $3.4338

conversion cost per unit = $3.43 ( after round off to nearest cent )

ekkarill92 answered 1 year ago

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