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On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...

On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 28,000 units were started. At the end of the month all started units were 75% complete with respect to conversion. Direct Materials placed into production had a total cost of $435,000 and the total conversion cost for the month was $498,000. Annapolis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of conversion for the month of March. (Round answer to the nearest cent.)

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Answer #1

ANSWER:-

CALCULATION OF COST PER EQUIVALENT UNIT OF CONVERSION:-   

Statement of Equivalent units(Weighted Average)

Material

UNITS COMPLETE % EQUIVALENT UNITS COMPLETE% EQUIVALENT UNITS

Introduced Units -    28000 100% 28000 75% 21000

Total:- 28000 21000

Cost Per Equivalent Units(Weighted Average)

COST    MATERIAL CONVERSION COST TOTAL

Beginning WIP inventory cost:-    $0 $0 $0

Cost Incurred During the month- $435000 $498000 $933000

Total cost to be accounted for:- $435000    $498000   $933000

Total Equivalent units 28000 Units 21000 Units

COST PER EQUIVALENT UNITS $15.54 $23.72 $39.26   

  

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