Reference no: EM132479818
Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process.
Units
- Beginning inventory of 4,100 units that are 100 percent complete for materials and 24 percent complete for conversion.
- 15,500 units started during the period.
- Ending inventory of 2,600 units that are 16 percent complete for conversion.
Manufacturing Costs
- Beginning inventory was $20,400 ($10,500 materials and $9,900 conversion costs).
- Costs added during the month were $29,400 for materials and $54,100 for conversion ($27,400 labor and $26,700 applied overhead).
Assume the company uses Weighted-Average Method.
Required:
Question 1. Calculate the number of equivalent units of production for materials and conversion for March.
Question 2. Calculate the cost per equivalent unit for materials and conversion for March.
Question 3. Determine the costs to be assigned to the units transferred out and the units still in process.
Question 4. Calculate the cost per equivalent unit for materials and conversion for March. (Round cost per Equivalent Unit to 5 decimal places.)
Direct Materials Conversion
Cost per Equivalent Unit $2.04000 $3.67000
Question 5. Determine the costs to be assigned to the units transferred out and the units still in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.)
Direct Materials Conversion Total Cost
Units Completed $34,680 $62,390 $62,390
Ending Inventory $5,304 $9,542 $1,527
Total Cost Accounted for $39,984 $71,932 $63,917
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