Superior Micro Products uses the weighted-average method in its process costing

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 38,100 $63,891 $ 310,410 $231,500 $42,594 $ 206,940 3,000 ,200 3,100 Required: 1. Compute the cost per equivalent unit for materials, for labor, and for overhead. (Round your answers to 2 decimal places.) Materials Labor Overhead 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 unit

Explanation / Answer

1.

2.

Total cost per equivalent unit = $84.25+$34.35+$172.45

Total cost per equivalent unit = $291.05

Materials Labor Overhead Cost per equivalent unit ($38,100+$231,500)/3,200 = $84.25 ($63,891+$42,594)/3,100 = $34.35 ($310,410+$206,940)/3,000 = $172.45

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