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Equivalent units and costs
Conversion cost per equivalent unit = Total cost/total equivalent units
Total conversion cost = 3,760 (opening WIP) + 20,000 (in the month) = 23,760
Cost per equivalent units = 23,760/158,400 = $0.15
Equivalent units for completed calendars = 144,000
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XYZ Company
Cost for material ($2.25 x 10,000 units) 22,500
Cost for conversion ($3.20 x 8,000 units) 25,600
Total cost of ending work in process 48,100 This solution is comprised of a detailed explanation to calculate total equivalent units for material and
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Equivalent Units of Production and Cost per Equivalent Unit
Correct- numbers for material and conversion units
Correct - cost per equivalent unit (materials and conversion) Formatted MS Excel file containing information and examples that illustrate how to figure equivalent units of production and cost per equivalent
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Equivalent units using FIFO
We first find the equivalent units in WIP
Equivalent Units Material - 4,200X100%=4,200
Material cost per unit = $5
Cost assigned to material = 4,200X5=21,000
Equivalent Units Conversion - 4,200X25%=1,050
Conversion Cost per unit = $15
Cost assigned
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Process costing
What is the cost per equivalent unit for conversion?
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Equivalent Units of Production: Brady Products
Determine the equivalent units of production for May.
Materials Conversion
Equivalent units of production
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2.
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Equivalent units and cost
What are the equivalent units for conversion costs for the month in the first processing department?
Equivalent units for conversion = 18,910
c.
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Weighted-Average Method for Accounting
Determine the equivalent units for May for the first process.
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Physical Flow of Units, Equivalent Units, Unit & Total Costs
Number of equivalent units Cost per equivalent unit Total cost
Direct material $ $
Conversion $
Total cost of June 30 work in process $. Please see the attached Excel file for the complete tutorial.
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Equivalent units of production for materials and conversion
For January, a firm's equivalent units of production for materials and conversion costs are 20,000 and 16,000, respectively. The total cost of materials used during the month is $64,000, and conversion costs are $80,000.