Homework Answers
| Calculate equivalent units of production for each category of costs as follows: | |||
| Equivalent Units | |||
| Flavoring | Vitamins and Minerals | Conversion Costs | |
| Units completed | 12500 | 12500 | 12500 |
| Ending work in process | 1500 | 0 | 750 |
| Total equivalent units | 14000 | 12500 | 13250 |
| Calculate cost per equivalent unit for each category of cost as follows: | |||
| Flavoring | Vitamins and Minerals | Conversion Costs | |
| Costs | 10500 | 7500 | 5300 |
| Total equivalent units | 14000 | 12500 | 13250 |
| Cost per equivalent unit | 0.75 | 0.6 | 0.4 |
| Calculate costs assigned to ending work in process as follows: | |||
| Flavoring | 1125 | ||
| Vitamins and minerals | 0 | ||
| Conversion costs | 300 | ||
| Total | 1425 | ||
Therefore, cost assigned to ending work in process is $1,425.
Above figures have been calculated in the following manner:
| Calculate equivalent units of production for each category of costs as follows: | |||
| Equivalent Units | |||
| Flavoring | Vitamins and Minerals | Conversion Costs | |
| Units completed | =14000-1500 | =14000-1500 | =14000-1500 |
| Ending work in process | 1500 | 0 | =1500*50% |
| Total equivalent units | =12500+1500 | =12500+0 | =12500+750 |
| Calculate cost per equivalent unit for each category of cost as follows: | |||
| Flavoring | Vitamins and Minerals | Conversion Costs | |
| Costs | 10500 | 7500 | 5300 |
| Total equivalent units | 14000 | 12500 | 13250 |
| Cost per equivalent unit | =10500/14000 | =7500/12500 | =5300/13250 |
| Calculate costs assigned to ending work in process as follows: | |||
| Flavoring | =1500*0.75 | ||
| Vitamins and minerals | =0*0.6 | ||
| Conversion costs | =750*0.4 | ||
| Total | =1125+0+300 | ||
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