The following information pertains to the Moline Facility for the month of May (
ID: 2567354 • Letter: T
Question
The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process):
value: 7.50 points The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): Units Material Costs 90,000 32,000 Beginning work in process Started in May Units completed Ending work in process 250,000 250,000 112,600 90,000 Required: Compute the cost per equivalent unit for materials using the weighted-average method. (Round "Cost per equivalent unit" answer to 2 decimal places.) Total costs to be accounted for Cost per equivalent unitExplanation / Answer
Total material cost:
Material cost in beginning WIP $ 32,000
Add: material cost in current month $ 112,600
Total Material cost to be accounted for $ 144,600
Total Equivalent units of Material:
Finished Goods(100% complete in every respect) 250,000 Eq. units
Ending WIP (100% complete as regards to material) 90,000 Eq.units
(as material in added in beginning)
Total Equivalent unts of material 340,000 Eq. units
Cost per Equivalent units = Total Material cost / Equivalent unit = 144,600 /340,000 = $ 0.425 per eq. unit
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