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Calculate cost per equivalent unit for transferred-in cost

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Reference no: EM132583272

Asaya Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Asaya uses the weighted-average method of process costing. The following information for June 2012 is available.

Physical Units (tons) Transferred-In Costs Direct Materials Conversion Costs

Work in process, beginning inventory (June 1) 75 $75000 0 30000

Degree of completion, beginning work in process 100% 0% 60%

Transferred in during June 135

Completed and transferred out during June 150

Work in process, ending inventory (June30) 60

Degree of completion, ending work inprocess 100% 0% 75%

Total costs added during June $142500 $37500 $78000

REQUIRED:

Question 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs.

Question 2. Summarize total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs.

Question 3. Assign total costs to units completed (and transferred out) and to units in ending work in process.

Reference no: EM132583272

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