Clonex Labs, Inc., uses a process costing system. The following data are availab

Question

Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 52,000 95% 60% Work in process, October 31 28,000 71% 53% The department started 390,000 units into production during the month and transferred 414,000 completed units to the next department. Required: Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.
Equivalent units of production: Materials??? Conversion???

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

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

Cost per equivalent unit Materials??? Labor?? Overhead???

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

Explanation / Answer

Requirement 1: Cost per Equivalent unit

Total Cost Equivalent units Cost per Equivalent Unit Material $16300 + $99130 = $115430 1400 $115430 / 1400 = $82.45 Labor $25389 + $16926 = $42315 1300 $42315 / 1300 = $32.55 Overhead $121572 + $81048 = $202620 1200 $202620 / 1200 = $168.85

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