Question

At the end of the current period, Walleye company completed 10,000 units and has 2,000 units...

At the end of the current period, Walleye company completed 10,000 units and has 2,000 units in process. The units in process are 100% complete in regard to direct materials and 75% in regard to direct labor. Walleye allocates overhead at 125% of direct labor.

Walleye's beginning goods in process inventory had $15,000 in direct material costs and $10,000 in direct labor costs. During the period, Walleye incurred costs of $69,000 in direct materials and $47,500 in direct labor.

Walleye's direct materials cost per equivalent unit of production is?  

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Answer #1
Equivalent unit
completed and transferred out 10000
Ending work in process inventory (2000*100%) 2000
Equivalent units 12000
Total Material cost incurred
Beginning WIP 15000
Current period cost 69000
Total Cost 84000

Direct materials cost per equivalent unit of production =Total material cost /equivalent unit

                                        = 84000 /12000

                                       = $ 7 per unit

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