Vernon Company had 250 units of product in its work in process inventory at the beginning of the period and started 2,100 additional units during the period. At the end of the period, 790 units were in work in process inventory. The ending work in process inventory was estimated to be 60 percent complete. The cost of work in process inventory at the beginning of the period was $6,280, and $25,044 of product costs was added during the period. Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. c. Calculate the total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts. Complete this question by entering your answers in the tabs below. Req A and B Req C a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. Note: Round "Cost per equivalent unit" answer to 2 decimal places. La Equivalent units
Vernon Company had 250 units of product in its work in process inventory at the beginning of the period and started 2,100 additional units during the period. At the end of the period, 790 units were in work in process inventory. The ending work in process inventory was estimated to be 60 percent complete. The cost of work in process inventory at the beginning of the period was $6,280, and $25,044 of product costs was added during the period. Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. c. Calculate the total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts. Complete this question by entering your answers in the tabs below. Req A and B Req C a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. Note: Round "Cost per equivalent unit" answer to 2 decimal places. La Equivalent units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Vernon Company had 250 units of product in its work in process inventory at the beginning of the period and started 2,100 additional
units during the period. At the end of the period, 790 units were in work in process inventory. The ending work in process inventory
was estimated to be 60 percent complete. The cost of work in process inventory at the beginning of the period was $6,280, and
$25,044 of product costs was added during the period.
Required
a. Calculate the number of equivalent units of production.
b. Calculate the product cost per equivalent unit.
c. Calculate the total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts.
Complete this question by entering your answers in the tabs below.
Req A and B
Req C
a. Calculate the number of equivalent units of production.
b. Calculate the product cost per equivalent unit.
Note: Round "Cost per equivalent unit" answer to 2 decimal places.
a. Equivalent units
b. Cost per equivalent unit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F69ae1dd6-3615-4a1a-a17e-22e8401cf941%2Fd5a6282c-2f05-4aa6-b9cd-58181242671e%2Fs49s3qx_processed.png&w=3840&q=75)
Transcribed Image Text:Vernon Company had 250 units of product in its work in process inventory at the beginning of the period and started 2,100 additional
units during the period. At the end of the period, 790 units were in work in process inventory. The ending work in process inventory
was estimated to be 60 percent complete. The cost of work in process inventory at the beginning of the period was $6,280, and
$25,044 of product costs was added during the period.
Required
a. Calculate the number of equivalent units of production.
b. Calculate the product cost per equivalent unit.
c. Calculate the total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts.
Complete this question by entering your answers in the tabs below.
Req A and B
Req C
a. Calculate the number of equivalent units of production.
b. Calculate the product cost per equivalent unit.
Note: Round "Cost per equivalent unit" answer to 2 decimal places.
a. Equivalent units
b. Cost per equivalent unit
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