A company that operates a process costing system had work-in-progress at the start of last month of 300 units (valued at $2,500) that were 70% complete in respect of all costs. Process costs of direct materials, direct labour and production overheads totaled $53,500. The company uses the Weighted Average method of cost allocation. What was the cost per equivalent unit (to 2 decimal places), if 1,600 units were transferred to the finished goods warehouse last month? a. 33.44 b. 36.00 c. 35.00 d. 35.56

A company that operates a process costing system had work-in-progress at the start of last month of 300 units (valued at $2,500) that were 70% complete in respect of all costs. Process costs of direct materials, direct labour and production overheads totaled $53,500. The company uses the Weighted Average method of cost allocation. What was the cost per equivalent unit (to 2 decimal places), if 1,600 units were transferred to the finished goods warehouse last month? a. 33.44 b. 36.00 c. 35.00 d. 35.56

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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