In: Accounting
Pablo Company calculates the cost for an equivalent unit of production using process costing.
Data for June | |||||||||
Work-in-process inventory, June 1: 12,000 units | |||||||||
Direct materials: 100% complete | $ | 24,000 | |||||||
Conversion: 40% complete | 9,600 | ||||||||
Balance in work-in-process, June 1 | $ | 33,600 | |||||||
Units started during June | 30,400 | ||||||||
Units completed and transferred out | 30,400 | ||||||||
Work-in-process inventory, June 30 | 12,000 | ||||||||
Direct materials: 100% complete | |||||||||
Conversion: 80% complete | |||||||||
Costs incurred during June | |||||||||
Direct materials | $ | 57,760 | |||||||
Conversion costs | |||||||||
Direct labor | 57,760 | ||||||||
Applied overhead | 82,080 | ||||||||
Total conversion costs | $ | 139,840 | |||||||
Required:
1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)
Weighted Average Cost per EU FIFO Cost Per EU
Direct Materials
Conversion
Total cost
The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.