Question

Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending...

Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process

The blending department had the following data for the month of March:

Units in BWIP —
Units completed 21,600
Units in EWIP (20% complete) 2,250
Total manufacturing costs $101,430

Required:

1. What is the output in equivalent units for March?
equivalent units

2. What is the unit manufacturing cost for March? Note: Round your answer to the nearest cent.
$per unit

3. Compute the cost of goods transferred out for March.
$

4. Calculate the value of March's EWIP.
$

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Homework Answers

Answer #1

Answer of PART 1

Equivalent units output= units complete +units in ewip

Equivalent units output = 21,600 + (20% of 2,250)

Equivalent units output = 21,600 + 450

Equivalent units output = 22,050 units

Answer of PART 2

Unit manufacturing cost =

= Total manufacturing cost ÷ equivalent units

Unit manufacturing cost = $101,430 ÷ 22,050

Unit manufacturing cost = $4.6 per unit

Answer of PART 3

Cost of goods transferred out =

= Units completed x unit manufacturing cost

= 21,600 units x $4.6 per unit

= $ 99,360

Answer of PART 4

EWIP =

=Total manufacturing cost - cost of goods transferred

= $101,430 - $99,360

= $2,070

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