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What are the equivalent units of production for materials

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Reference no: EM133071917

PROBLEM - Summer Company makes a single chemical product in 2 departments. The addition of chemicals in the second department increases the weight of the product by 25%. The chemicals are added when the products reaches 50% of completion stage. The following information were gathered for Department 2 for the month of May:

Units: In Process Beg 60% done 4,000

Received from Dept A 30,000

Completed and Transferred 25,000

In Process End 60% ?

Costs: In Process, Beg P20,140

Preceding Dept Cost 97,200

Materials 67,500

Conversion 81,000

Required - Prepare a Production Cost Report and answer the following questions:

- What are the equivalent units of production for materials?

- What are the equivalent units of production for labor and overhead?

- What is the total material unit cost?

- What is the total conversion unit cost? 4 decimal places.

-What is the transferred in unit cost? Use three decimal places.

- What is the total cost assigned to transferred out units? Round off to the nearest peso.

Reference no: EM133071917

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