Old Aunties Syrup uses process costing. Its Mixing Department had a beginning in

Question

Old Aunties Syrup uses process costing. Its Mixing Department had a beginning inventory of 650 units that had accumulated conversion costs of $16,486. During the period, the Mixing Department incurred conversion costs of $43,400 and started 21,900 new units. Ending inventory consisted of 700 units that were 40% complete with respect to conversion costs. Materials are added at the beginning of the process. Calculate the cost per equivalent unit for conversion costs in the Mixing Department. Costs Conversion Beginning Work in Process Cost incurred during period Total cost incurred Units Units completed Equivalent units in ending WIP Units accounted for Cost per equivalent unit

Costs Conversion Beginning Work in Process Cost incurred during period Total cost incurred Units Units completed Equivalent units in ending WIP Units accounted for Cost per equivalent unit

Explanation / Answer

Calculate the cost per equivalent unit for conversion costs in the Mixing Department

Costs Conversion Beginning Work in Process 16486 Cost incurred during period 43400 Total cost incurred 59886 Units Units completed 21850 Equivalent units in ending WIP (700*40%) 280 Units accounted for 22130 Cost per equivalent unit $2.71

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