What are the equivalent production units for materials

Assignment Help Cost Accounting

Reference no: EM13184778

Base your answer on the data from Paxton, Inc. for March. Paxton uses the average costing method.

Paxton, Inc. for March
Quantity				Costs	Beginning Work in Process			Current Month
Work in Process-Beginning			24,000	Materials		$50,000	$180,000
Started in Production-Current Month			176,000	Labor		11,460	110,780
Transferred Out to Finished Goods				Overhead		3,820	40,110
Joint Product No. 1			100,000	Total		$65,280	$330,890
Joint Product No. 2			70,000
Work in Process-Ending			30,000
Stage of Completion of Beginning Work in Process Ending Work in Process
Materials	100% 100%
Labor	60% 70%
Overhead	60% 70%
Sales Value
Joint Product No. 1		$2.00 per unit
Joint Product No. 2		$4.00 per unit

Additional Completion Costs
Joint Product No. 1		$0.30 per unit
Joint Product No. 2		-0-

What are the equivalent production units for materials, labor, and overhead, respectively?

What is the total cost to be accounted for?

What are the unit costs of materials, labor, and overhead, respectively?

What is the total cost transferred out?

Reference no: EM13184778

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