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Calculate the unit cost for materials

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Question - Unit Cost and Cost Assignment, Non-uniform Inputs - Loran Inc. had the following equivalent units schedule and cost for its fabrication department during September:

Materials Conversion

Units completed 180,000 180,000

Add: Units in ending WIP x Fraction complete 66,000 39,600

(66,000 x 60%)

Equivalent units of output 246,000 219,600

Costs:

Work in process, September 1:

Materials $147,000

Conversion costs 7,875

Total $154,875

Current costs:

Materials $1,103,000

Conversion costs 324,900

Total $1,427,900

Required -

1. Calculate the unit cost for materials, for conversion, and in total for the fabrication department for September. If required, round your answers to the nearest cent.

2. Calculate the cost of units transferred out and the cost of EWIP. Round unit cost value to the nearest cent in intermediate calculations. If required, round final answers to the nearest dollar.

Reference no: EM133079406

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