Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Work in process, May 1 $ 18,000 $ 5,500 $ 27,500 Cost added during May $ 238,900 $ 80,300 $ 401,500 Equivalent units of production 35,000 33,000 33,000 Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)

Question

Maverick Chandler

Business

18 August, 18:20

Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Work in process, May 1 $ 18,000 $ 5,500 $ 27,500 Cost added during May $ 238,900 $ 80,300 $ 401,500 Equivalent units of production 35,000 33,000 33,000 Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)

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Lisa · Answer 1

EUC

Materials 7.34

Labor 2.60

Overhead 13

Explanation:

We will add for each category the beginning cost wth the cost added during the period:

Materials:

18,000 + 238,900 = 256,900

Labor:

5,500 + 80,300 = 85,800

Overhead:

27,500 + 401,500 = 429,000

Now we diivde by the equivalent units of each category:

Equivalent unit cost:

Materials:

256,900 / 35,000 = 7.34

Labor:

85,800 / 33,000 = 2.60

Overhead:

429,000 / 33,000 = 13