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Calculate the number of equivalent units

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Reference no: EM133001251

Mirada Company manufactures handheld calculators and has the following information available for the month of July:

Work in process, July 1 (100% complete for materials, 25% for conversion) 118,000units

Direct materials $232,000

Conversion cost $386,000

Number of units started 212,000units

July costs Direct materials $418,000

Conversion cost $476,000

Work in process, July 31 (100% complete for materials, 10% for conversion) 136,000units

Required:

Using the weighted-average method of process costing, complete each of the following steps:

Problem 1. Reconcile the number of physical units worked on during the period.

Problem 2. Calculate the number of equivalent units.

Problem 3. Calculate cost per equivalent unit.

Problem 4. Reconcile the total cost of work in process.

Reference no: EM133001251

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