Question

On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...

On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 33,000 units were started. At the end of the month all started units were 50% complete with respect to conversion. Direct Materials placed into production had a total cost of $405,000 and the total conversion cost for the month was $368,000. Annapolis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of conversion for the month of March. (Round answer to the nearest cent.)

Homework Answers

Answer #1
  • Cost per equivalent unit of conversion = $ 22.30
  • Working

EUP - Weighted Average Method

Units

% Conversion

EUP - Conversion

Units TRANSFERRED

0

100%

0

Units of ENDING WIP

33,000

50%

16,500

Equivalent Units of Production

16,500

COST per EUP

Conversion

Cost of Beginning WIP

$                                                 -  

Cost incurred during the period

$                                368,000.00

Total Costs

Costs

$                                368,000.00

Equivalent units of production

EUP

16,500

Cost per EUP

$                                   22.30303

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