Logan Chemical Company produces a chemical agent for commercial use. The company accounts for production in...

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Logan Chemical Company produces a chemical agent for commercial use. The company accounts for production in two departments:

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Answer 1

Answer #1

a) Equivalent unit

	Whole Unit	% material	EUP-Material	% Conversion	EUP-Conversion
Beginning WIP	1000	0%	0	60%	600
Unit started and completed	16000	100%	16000	100%	16000
Ending WIP	4000	100%	4000	60%	2400
Total	21000		20000		19000

b) Cost per equivalent unit

	Material	Conversion
Cost added	92400	40950
Equivalent unit	20000	19000
Cost per equivalent unit	4.62	2.16

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Answer 2

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