Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) $ 122,400 Conversion (50% completed) 76,800 Balance in work in process inventory, July 1 $ 199,200 Units started during July 90,000 Units completed and transferred 102,000 Work-in-process inventory, July 31: Direct materials (100% completed) 24,000 Conversion (50% completed) Cost incurred during July: Direct materials $ 180,000 Conversion costs 288,000 Cost per equivalent unit for materials under the weighted-average method is calculated to be:
Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) $ 122,400 Conversion (50% completed) 76,800 Balance in work in process inventory, July 1 $ 199,200 Units started during July 90,000 Units completed and transferred 102,000 Work-in-process inventory, July 31: Direct materials (100% completed) 24,000 Conversion (50% completed) Cost incurred during July: Direct materials $ 180,000 Conversion costs 288,000 Cost per equivalent unit for materials under the weighted-average method is calculated to be:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method.
| Data for July: | |||
| Work-in-process inventory, July 1 (36,000 units): | |||
| Direct materials (100% completed) | $ | 122,400 | |
| Conversion (50% completed) | 76,800 | ||
| Balance in work in process inventory, July 1 | $ | 199,200 | |
| Units started during July | 90,000 | ||
| Units completed and transferred | 102,000 | ||
| Work-in-process inventory, July 31: | |||
| Direct materials (100% completed) | 24,000 | ||
| Conversion (50% completed) | |||
| Cost incurred during July: | |||
| Direct materials | $ | 180,000 | |
| Conversion costs | 288,000 | ||
Cost per equivalent unit for materials under the weighted-average method is calculated to be:
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