The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...

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The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...

The Lakeside Company uses a weighted-average process costing system. The following data are available:


Beginning inventory		-0-
Units started in production		20,400
Units finished during the period		16,200
Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead)		4,200
Cost of materials used	$	37,370
Labor and overhead costs	$	39,675

Cost per equivalent unit of labor and overhead is:

$2.07.
$1.94.
$2.30.
$2.45.

business accounting

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Answer 1

Answer #1

Cost per Equivalent Unit of Production
			Conversion

During the month costs			$ 39,675.00
Total cost		Costs	$ 39,675.00
÷	Equivalent units of production	EUP	17250
Cost per equivalent unit of production			$ 2.30

Answer: $ 2.30

Workings:

Equivalent Units of Production (EUP) - Weighted Average Method

	Units	% Conv.	EUP- Conv.
Units completed and transferred out	16200	100%	16200
Units in ending inventory	4200	25%	1050
Equivalent units of production			17250

Note: Labor + Overhead = Conversion Cost

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Answer 2

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