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The production report for Glenway Company for February contained the following information: Work in process, beginning...

The production report for Glenway Company for February contained the following information: Work in process, beginning of the month - 3,500 units; 1 / 5 completed Units completed and transferred to finished goods - 25,000 Work in process, end of month - 4,000 units; 1 / 4 completed Production costs for the month were: materials - $25,325; labor - $20,175; overhead - $38,950. Costs in beginning work in process were $5,250. What is the cost per equivalent unit? a. $3.45 b. $3.59 c. $3.20 d. $3.25

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Answer #1

a. $3.45

Working:

Beginning work in process $         5,250
Current Period:
Materials $       25,325
Labor $       20,175
Overhead $       38,950 $       84,450
Total cost $       89,700
/ Equivalent units           26,000
Cost per equivalent unit $ 3.45
Working:
Equivalent units of production = 25000+(4000*1/4)
=           26,000
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