Superior Micro Products uses the weighted-average method in its process costing

Question

Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below:

Required:

Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)

QUESTION1) Materials:

QUESTION2) Labor:

QUESTION3) Overhead:

QUESTION4) Total:

Materials Labor Overhead Work in process, May 1 $ 12,800 $ 19,350 $ 90,855 Cost added during May $ 77,565 $ 12,900 $ 60,570 Equivalent units of production 1,100 1,000 900

Explanation / Answer

Weighted Average Method Materials Labor Overhead Total Cost of beginning work in progress $        12,800 $        19,350 $        90,855 Cost added during May            77,565            12,900            60,570 Total Cost (a)            90,365            32,250          151,425 Equivalent units of production (b)              1,100              1,000 900 Cost per equivalent unit $          82.15 $          32.25 $        168.25 $ 282.65

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