Easton Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Easton started into production 12,000 units. At the end of the month there were 8,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 70% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP: Direct Material Direct Labor 14,000 Factory Overhead 40,000 Easton uses the weighted-average process costing method. Use this information to determine the conversion cost per equivalent unit for the month of March. (Round your answer to the closest cent per unit) $20,000
Easton Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Easton started into production 12,000 units. At the end of the month there were 8,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 70% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP: Direct Material Direct Labor 14,000 Factory Overhead 40,000 Easton uses the weighted-average process costing method. Use this information to determine the conversion cost per equivalent unit for the month of March. (Round your answer to the closest cent per unit) $20,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Easton Company, on March 1, 2021 has a
beginning Work in Process inventory of zero. All
materials are added into production at the
beginning of its production. There is only one
production WIP inventory. On March 1, Easton
started into production 12,000 units. At the end
of the month there were 8,000 units completed
and transferred into the Finished Goods
Inventory. The ending WIP was 70% complete
with respect to conversion. For the month of
March the following costs were incurred and
recorded in the WIP:
Direct Material
Direct Labor 14,000
Factory Overhead 40,000
Easton uses the weighted-average process
costing method. Use this information to
determine the conversion cost per equivalent
unit for the month of March. (Round your
answer to the closest cent per unit)
$20,000
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