Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm’s sawmill during November. Work in process, November 1:Direct material .................................................................................................$ 65,000Conversion .........................................................................................................180,000Costs incurred during November:Direct material ................................................................................................$425,000Conversion ..........................................................................................................690,000 The equivalent units of activity for November were as follows: 7,000 equivalent units of direct material and 1,740 equivalent units of conversion activity.Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average process costing.
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm’s sawmill during November.
Work in process, November 1:
Direct material .................................................................................................$ 65,000
Conversion .........................................................................................................180,000
Costs incurred during November:
Direct material ................................................................................................$425,000
Conversion ..........................................................................................................690,000
The equivalent units of activity for November were as follows: 7,000 equivalent units of direct material and 1,740 equivalent units of conversion activity.
Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average
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