Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 13,000 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 $ 26,000 10,400 $36,400 32,600 32,600 13,000 $ 65,200 65,200 91,280 $ 156,480 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)

Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 13,000 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 $ 26,000 10,400 $36,400 32,600 32,600 13,000 $ 65,200 65,200 91,280 $ 156,480 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)

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: 13,000 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
$
S
Required:
1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)
Answer is not complete.
S
$ 26,000
10,400
$36,400
32,600
32,600
13,000
$ 65,200
65,200
91,280
$ 156,480
FIFO Cost per EU
9,346,000.000 S 6,966,000.000 X
9,924.000.000 X
19,270,000.000 S 6,966,000.000

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