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Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the...

Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for distribution to its retail sales department. Direct materials are added at the initiation of the cycle. Conversion costs are incurred evenly throughout the production cycle. Before​ inspection, some fillets are spoiled due to undetectable defects. Inspection occurs when units are 40%converted. Spoiled fillets generally constitute 4​% of the good fillets. Data for April 2017 are as​ follows:

​WIP, beginning inventory​ 4/1/2017

90,000 fillets

         Direct materials​ (100% complete)
         Conversion costs

​(60%)

​complete)

Started during April

138,000 fillets

Completed and transferred out​ 4/30/2017

188,000 fillets

​WIP, ending inventory​ 4/30/2017

30,000 fillets

         Direct materials​ (100% complete)
         Conversion costs​(30​%
​complete)

Costs for​ April:

    ​ WIP, beginning​ Inventory:

          Direct materials

$137,000

          Conversion costs

101,910

     Direct materials added

310,000

     Conversion costs added

383,130

What is the total cost per equivalent unit using the weighted−average method of process​ costing? (Round any cost per unit calculations to the nearest​ cent.)

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Answer #1
Fish Fillet ( Weighted average )
Equivalent Units
Physical units DM Conversion costs
Opening WIP 90000 % Units % Units
Started during current period 138000
To account for 228000
Good units completed and tfd. Out 188000 100 188000 100 188000
Normal spoilage ( 228000 - 188000 - 30000 ) 10000 100 10000 100 10000
Ending WIP 30000 100 30000 30 9000
Accounted for 228000
EUP 228000 207000
Cost Information
Costs to account for: Materials Conversion cost Total
Op. WIP 137000 101910 238910
Added during the period 310000 383130 693130
Total costs to account for 447000 485040 932040
EUP 228000 207000
Cost per EUP 1.960526316 2.343188406 4.303714722 Answer
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