Computing unit cost The records of Burris Inc. reflect the following data: E5-6

Question

Computing unit cost The records of Burris Inc. reflect the following data: E5-6 Work in process, beginning of month-2,000 units one-half completed at a cost of $1,250 for materials, $675 for labor, and $950 for overhead. Production costs for the month-materials, $99,150; labor, $54,925; factory overhead, $75,050 Units completed and transferred to stock-38,500. Work in process, end of month-3,000 units, one-half completed Compute the month's unit cost for each element of manufacturing cost and the total per unit cost.

Explanation / Answer

As per chegg guidelines we answer one question per post Statement of Equivalent production Particulars Direct Materials %completion Equivalent mat Labour %completion Equivalent Labour Overhead %completion Equivalent Overhead Total Opening WIP       2,000.00 50%       1,000.00       2,000.00 50%       1,000.00       2,000.00 50%       1,000.00 Units started and completed (38500 - 2000)     36,500.00 100%     36,500.00     36,500.00 100%     36,500.00     36,500.00 100%     36,500.00 ending WIP       3,000.00 50%       1,500.00       3,000.00 50%       1,500.00       3,000.00 50%       1,500.00 Equivalent Units     39,000.00     39,000.00     39,000.00 Current Month Costs     99,150.00     54,925.00     75,050.00 Cost per Equivalent units               2.54               1.41               1.92               5.88 Note - Assumed FIFO method in absence of information

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