Question

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.)

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