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Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 21,000 units. Direct materials: 100 % complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100 % complete Conversion: 80% complete Costs incurred during June Direct materials. Conversion costs. Direct labor Applied overhead Total conversion costs. Direct materials $ 42,000 16,800 $ 58,800 Weighted Average Cost per EU 50,200 50,200 21,000 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.) $140,560 140,560 180,720 $321,280 FIFO Cost per EU

Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 21,000 units. Direct materials: 100 % complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100 % complete Conversion: 80% complete Costs incurred during June Direct materials. Conversion costs. Direct labor Applied overhead Total conversion costs. Direct materials $ 42,000 16,800 $ 58,800 Weighted Average Cost per EU 50,200 50,200 21,000 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.) $140,560 140,560 180,720 $321,280 FIFO Cost per EU

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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Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 21,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs Direct materials Conversion Total cost Weighted Average Cost per EU Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.) $ $ 42,000 16,800 $ 58,800 50, 200 50,200 21,000 0.000 $ $140,560 140,560 180,720 $321,280 FIFO Cost per EU 0.000
Transcribed Image Text:Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 21,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs Direct materials Conversion Total cost Weighted Average Cost per EU Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.) $ $ 42,000 16,800 $ 58,800 50, 200 50,200 21,000 0.000 $ $140,560 140,560 180,720 $321,280 FIFO Cost per EU 0.000
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