Question
Holling Inc. uses the weighted-average method in its process costing. The following data concern the company’s...
Holling Inc. uses the weighted-average method in its process costing. The following data concern the company’s Mixing Department for the month of December.
| Materials | Conversion | |||
| Work in process, December 1 | $ | 8,730 | $ | 9,728 |
| Cost added to production in the Mixing | ||||
| Department during December | $ | 227,100 | $ | 284,832 |
| Equivalent units of production for December | 10,500 | 10,000 | ||
Required:
Compute the cost per equivalent unit for materials and conversion for the Mixing Department in December. (Round your answers to 2 decimal places.)
Cost per equivalent unit: Materials? Conversion?
Homework Answers
Answer #1
in weighted average costing
cost per equivalent unit is measured by taking actual cost incurred
till date to actual units which are equivalent to finishied units.
This method considers all units are similar and cost per unit does
not change significantly.
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