Superior Micro Products uses the weighted-average method in its process costing
ID: 2552141 • Letter: S
Question
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Work in process, May 1 Cost added during May Equivalent units of production Materials Labor Overhead $16,300 $25,389 121,572 $99,130 16,926 81,048 1,200 1.400 1,300 Required: 1. Compute the cost per equivalent unit for materials, for labor, and for overhead. (Round your answers to 2 decimal places.) MaterialsLabor Overheacd Cost per equivalent unit 2. Compute the total cost per equivalent whole unit. (Do not round your intermediate calculations. Round your final answer to 2 decimal places.) Total cost per equivalent unitExplanation / Answer
Answer:
1
Materials
Labor
Overhead
Cost per equivalent unit
82.45
32.55
168.85
Working notes for the answer:
Materials
Labor
Overhead
Cost of beginning work in process inventory
$16,300
$25,389
$121,572
Cost added during the period
99,130
16,926
81,048
Total cost (a)
$115,430
$42,315
$202,620
Equivalent units of production (b)
1,400
1,300
1,200
Cost per equivalent unit (a) ÷ (b)
$82.45
$32.55
$168.85
_____________________________________
2
equivalent unit = $283.85
Working notes
Materials
Labor
Overhead
Total
Cost per equivalent unit
82.45
32.55
168.85
283.85
=82.45+32.55+168.85
=283.85
Materials
Labor
Overhead
Cost per equivalent unit
82.45
32.55
168.85
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