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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: 27,000 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 $ 54,000 21,600 $ 75,600 63,400 63,400 27,000 $ 215,560 215,560 266,280 $ 481,840 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to places.)

Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 27,000 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 $ 54,000 21,600 $ 75,600 63,400 63,400 27,000 $ 215,560 215,560 266,280 $ 481,840 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to places.)

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: 27,000 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 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 dec places.) Weighted Average Cost per EU Answer is complete but not entirely correct. $ $ 54,000 21,600 $ 75,600 $ 215,560 215,560 266,280 $ 481,840 FIFO Cost per EU 2.982 $ 5.255 X $ 8.237 $ 63,400 63,400 27,000 3.400 5.030 8.430
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: 27,000 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 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 dec places.) Weighted Average Cost per EU Answer is complete but not entirely correct. $ $ 54,000 21,600 $ 75,600 $ 215,560 215,560 266,280 $ 481,840 FIFO Cost per EU 2.982 $ 5.255 X $ 8.237 $ 63,400 63,400 27,000 3.400 5.030 8.430
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