Question

Ch 17#11 Costs per Equivalent Unit Georgia Products Inc. completed and transferred 213,000 particle board units...

Ch 17#11

Costs per Equivalent Unit

Georgia Products Inc. completed and transferred 213,000 particle board units of production from the Pressing Department. There was no beginning inventory in process in the department. The ending in-process inventory was 19,000 units, which were 2/5 complete as to conversion cost. All materials are added at the beginning of the process. Direct materials cost incurred was $881,600, direct labor cost incurred was $125,080, and factory overhead applied was $29,340.

Determine the following for the Pressing Department. Round "cost per equivalent unit" answers to the nearest cent.

a. Total conversion cost $
b. Conversion cost per equivalent unit $
c. Direct materials cost per equivalent unit $
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Answer #1

a.

Total Conversion Cost = Direct labor cost incurred + Factory overhead applied = $125,080 + $29,340 = $154,420

b.

Equivalent Unit Produced = Units completed and transferred out + Completed portion on ending work in process = 213,000 + (19,000*2/5) = 220,600

Conversion cost per equivalent unit = Total conversion cost/Equivalent units = $154,420/220,600 = $0.70 per unit

c.

The material is added at the beginning of process. Hence, the ending work in process is complete with respect to material costs.

Equivalent units for direct material cost = 213,000 + 19,000 = 232,000 units

Direct Material cost per equivalent unit = $881,600/232,000 units = $3.80 per unit

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