Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 20,000 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.) $ $ 40,000 16,000 $ 56,000 0.000 $ 48,000 48,000 20,000 $ 129,600 129,600 168,000 $ 297,600 FIFO Cost per EU 0.000
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 20,000 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.) $ $ 40,000 16,000 $ 56,000 0.000 $ 48,000 48,000 20,000 $ 129,600 129,600 168,000 $ 297,600 FIFO Cost per EU 0.000
Chapter1: Financial Statements And Business Decisions
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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: 20,000 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.)
$
$ 40,000
16,000
$ 56,000
48,000
48,000
20,000
0.000 $
$ 129,600
129,600
168,000
$ 297,600
FIFO Cost per EU
0.000
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