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Cost per Equivalent Unit The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is $314,430. The conversion cost for the period in the Filling Department is $186,300. The total equivalent units for direct materials an

Cost per Equivalent Unit The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is $314,430. The conversion cost for the period in the Filling Department is $186,300. The total equivalent units for direct materials an

FINANCIAL ACCOUNTING
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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  1. Cost per Equivalent Unit

    The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is $314,430. The conversion cost for the period in the Filling Department is $186,300. The total equivalent units for direct materials and conversion are 66,900 ounces and 69,000 ounces, respectively.

    Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent.

    Direct materials cost per equivalent unit: $fill in the blank 1 per ounce
    Conversion costs per equivalent unit: $fill in the blank 2 per ounce
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