Ego Manufacturing produces a pesticide chemical and uses processcosting. There are three processingdepartmentslong dash—?Mixing,...Ego...

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Accounting

Ego Manufacturing produces a pesticide chemical and uses processcosting. There are three processing
departmentslong dash—?Mixing,
?Refining, and Packaging. On January? 1, the Refining Departmenthad
3 comma 0003,000
gallons of partially processed product in production. During?January,
33 comma 00033,000
gallons were transferred in from the Mixing? Department, and
29 comma 00029,000
gallons were completed and transferred out. At the end of the?month, there were
7 comma 0007,000
gallons of partially processed product remaining in the RefiningDepartment. See additional details below.
Refining? Department, beginning balance at January1
?Quantity:
3 comma 0003,000
units? (partially processed)?Cost:
$ 15 comma 600$15,600
of costs transferred in
$ 4 comma 500$4,500
of materials cost
$ 1 comma 800$1,800
of conversion cost
21 comma 90021,900
total account balance
Costs added during January
Cost of units transferred in $ 222 comma 400$222,400
Direct materials cost $ 93 comma 750$93,750
Conversion cost $ 45 comma 000$45,000
Refining? Department, ending balance at January31
?Quantity:
7,000
units? (partially processed)Percent complete for materials?cost:
85?%
Percent complete for conversion? cost:
70%
What was the cost per equivalent unit with respect to conversioncosts for the Refining Department in the month of? January? (Usethe
weightedminus?average
?method, and round your calculations to the nearest?cent.)??

Answer & Explanation Solved by verified expert

3.7 Ratings (424 Votes)

All working forms part of the answer Question asked Cost per Equivalent units for Conversion cost Working 1 Reconciliation of Units A Opening WIP 3000 B Introduced 33000 CAB TOTAL 36000 D See Answer

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In: AccountingEgo Manufacturing produces a pesticide chemical and uses processcosting. There are three processingdepartmentslong dash—?Mixing,...Ego Manufacturing produces a pesticide chemical and uses processcosting. There are three processingdepartmentslong dash—?Mixing,?Refining, and Packaging. On January? 1, the Refining Departmenthad3 comma 0003,000gallons of partially processed product in production. During?January,33 comma 00033,000gallons were transferred in from the Mixing? Department, and29 comma 00029,000gallons were completed and transferred out. At the end of the?month, there were7 comma 0007,000gallons of partially processed product remaining in the RefiningDepartment. See additional details below.Refining? Department, beginning balance at January1?Quantity:3 comma 0003,000units? (partially processed)?Cost:$ 15 comma 600$15,600of costs transferred in$ 4 comma 500$4,500of materials cost$ 1 comma 800$1,800of conversion cost21 comma 90021,900total account balanceCosts added during JanuaryCost of units transferred in $ 222 comma 400$222,400Direct materials cost $ 93 comma 750$93,750Conversion cost $ 45 comma 000$45,000Refining? Department, ending balance at January31?Quantity:7,000units? (partially processed)Percent complete for materials?cost:85?%Percent complete for conversion? cost:70%What was the cost per equivalent unit with respect to conversioncosts for the Refining Department in the month of? January? (Usetheweightedminus?average?method, and round your calculations to the nearest?cent.)??