Equivalent Units
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Motormania makes diesel engines.
All direct materials are introduced at the start of the process.
Conversion costs are incurred evenly throughout the process.
May 1 there was no beginning WIP inventory, but 485,000 units were started.
At the end of May, there were 90,000 units still in process at the 70% stage of completion.
Total costs incurred during May amounted to $1,212,500 for materials and $3,664,000 for conversion costs.
Calculate:
1. Units completed and transferred
2. Equivalent units of materials and conversions
3. Cost per equivalent unit of materials and conversion
4. Cost of a completed unit.
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Solution Summary
The solution explains how to calculate the equivalent units and the costs per unit.
Solution Preview
1. Units completed and transferred
Total units started are 485,000 and 90,000 are in ending WIP. The units finished and transferred are 485,000-90,000=395,000.
2. Equivalent units of materials and ...
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