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On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...

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Accounting

On March 1, 2019, Annapolis Company has a beginning Work inProcess inventory of zero. All materials are added into productionat the beginning of its production. There is only one productionWIP inventory. During the month 35,000 units were started. At theend of the month all started units were 55% complete with respectto conversion. Direct Materials placed into production had a totalcost of $475,000 and the total conversion cost for the month was$368,000. Annapolis uses the weighted-average process costingmethod. Use this information to determine the cost per equivalentunit of conversion for the month of March. (Round answer to thenearest cent.)

Answer & Explanation Solved by verified expert
4.1 Ratings (462 Votes)

  • Cost per Equivalent unit of CONVERSION = $ 19.12 per unit
  • Working for above answer

EUP - Weighted Average Method

Units

% Conversion

EUP - Conversion

Units TRANSFERRED

0

100%

0

Units of ENDING WIP

35,000

55%

19,250

Equivalent Units of Production

19,250

COST per EUP

Conversion

Cost of Beginning WIP

$                                                 -  

Cost incurred during the period

$                                368,000.00

Total Costs

Costs

$                                368,000.00

Equivalent units of production

EUP

19,250

Cost per EUP

$                                   19.11688 or $ 19.12

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