Maurice Tutor

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Category > Management Posted 16 Feb 2018 My Price 9.00

Stay Corporation

Stay Corporation uses the weighted-average method in its process costing system.

The company's ending work in process inventory consists of 8,000 units, 60% complete with respect to materials and 80% complete with respect to conversion costs.

If the total cost in this inventory is $200,000 and if the cost for materials is $16 per equivalent unit for the period, the conversion cost per equivalent unit of the production for the period must be:

A) 19.25

B) 16.00

C) 25.67

D) 31.25

Please show work so I understand how you got the answer. Thanks!

 

Ans is a 19.25.

Particulars Material % Completion Equivalent Units Conversion % Completion Equivalent Units
Closing WIP 8,000.00 60% 4,800.00 8,000.00 80% 6,400.00
      4,800.00     6,400.00
Cost per Unit     16.00      
Total Cost(Units * cost per unit)     76,800.00      
             
Total cost of inventory 200,000.00          
Total cost of Materials 76,800.00          
Cost of conversion(Total Cost - Materials Cost) 123,200.00          
Equivalent Conversion units 6,400.00          
Cost of Conversion per unit(123,200/6,400) 19.25

 

Answers

Maurice Tutor
(5)
Status NEW Posted 16 Feb 2018 11:02 PM My Price 9.00

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