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Exercise 3-7 Cost per Equivalent Unit

Exercise 3-7 Cost per Equivalent Unit
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ACCOUNTING

MT425 / MT 425
Managerial Finance and Accounting
Kaplan University (KU Campus)

James Jiambalvo
Managerial Accounting, 4e
Hoboken, NJ: John Wiley & Sons.

Unit 3: Unit Costs for Decision Making

Chapter 3 Exercise 3-7 Cost per Equivalent Unit [LO 3] The balance in beginning Work in Process at Bing Rubber Company for direct labor was $140,000. During the month of March, an additional $700,000 of direct labor was incurred, and 30,000 pounds of rubber were produced. At the end of March, 10,000 pounds of rubber were in process and the units were 50 percent complete. At the start of March, the company had 6,000 pounds of rubber that were 40 percent complete.

Required
Calculate the cost per equivalent unit for labor assuming that labor is added uniformly throughout the production process.

 

FILE: MS WORD

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