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Data: Water Gear Shaping Department Month Ended May 31 Flow of Equivalent Units Physical Direct Conversion...

Data:

Water Gear
Shaping Department
Month Ended May 31
Flow of Equivalent Units
Physical Direct Conversion
Flow of Production Units Materials Costs
Units to account for:
Beginning work in process, May 1 0
Started in production during May 66,000
Total physical units to account for 66,000
Units accounted for:
Completed and transferred out during May 50,000 50,000 50,000
Ending work in process, May 31 16,000 16,000 4,800 *
Total physical units accounted for 66,000
Total equivalent units 66,000 54,800
*16,000 units each 30% complete = 4,800 equivalent units
Water Gear
Shaping Department
Month Ended May 31
Direct Conversion
Materials Costs Total
Beginning work in process, May 1 $0 $0 $0
Costs added during May: 135,000 65,250 * 200,250
Total costs to account for $135,000 $65,250 $200,250
*$22,000 of direct labour plus $43,250 of manufacturing overhead = $65,250 of conversion costs

Water GearWater Gear​, a sporting goods​ company, produces swim masks. During May​, the Shaping Department determined the following equivalent units and incurs the following costs while working on 66,000.

Suppose direct labour is $52,000 rather than $22,000. Now what is the conversion cost per equivalent​ unit?

Water Gear

Shaping Department

Conversion Cost per Equivalent Unit

Conversion

Flow of Production

Costs

Cost to account for

Cost per equivalent unit
Business   Accounting   
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Homework Answers

Answer #1
Water Gear
Shaping Department
Conversion Cost per Equivalent Unit
Conversion
Flow of Production Costs
Beginning work in process, May 1 $                -  
Costs added during May: $       95,250
Cost to account for $       95,250
Total equivalent units           54,800
Cost per equivalent unit $            1.74

Cost per equivalent unit = $95250/54800 = $1.738 = $1.74

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