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3-43 Process costing equivalent units, product cost

3-43 Process costing equivalent units, product cost
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MANAGEMENT ACCOUNTING
Management Accounting (Atkinson), 5th Edition
3-43 (Process costing equivalent units, product cost) The information below pertains to October production at Zippy Company's bottling plant, which produces and bottles sports drinks. Each unit consists of a case of 12 bottles.
Units Materials Conversion
Work in progress Oct 1 2,000 70% complete 60% complete
Started in October 10,000
To Account for 12,000
Completed and transferred out 8,000 100% complete 100% complete
Work in progress Oct 30 4,000 40% compete 25% complete
Accounted for 12,000
Costs beg of Oct $1,050 $3,240
Added during Oct 8,200 22,620
To be accounted for $9,250 $25,860
* a) Using the weighted-average method, determine the number of equivalent units of production for materials and conversion during October.
* b) Determine the cost per equivalent unit for materials and conversion for October and the total cost per equivalent unit.
* c) Determine whether the cost per equivalent unit for materials and conversion increased or decreased from the previous month.

Also compute the cost of goods completed and Transferred out and cost of WIP ending inventory

 

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