March 1, 2017, Alpha Company’s beginning work in process inventory had 8,000 units. This is its only

production department. Beginning WIP units were 50% completed as to conversion costs. Alpha introduces direct materials at the beginning of the production process.  During March, a total of 17,000 units were started and a total of 20,000 units were completed. Alpha’s ending WIP inventory had 5,000 units which were 60% completed as to conversion costs. Alpha uses the weighted average method. Use this information to determine for March 2017 the equivalent units of production for conversion costs. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

 

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Alpha Company, on March 1, 2017 has a

beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Alpha started into production 10,000 units. At the end of the month there were 5,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 40% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

            Direct Material                      $20,000

            Direct Labor                             9,000

            Factory Overhead                  40,000

Alpha uses the weighted-average process costing method. Use this information to determine for the month of March: (Round & enter final answers to the nearest penny.)

            1. the cost per equivalent unit of direct material

            2. the cost per equivalent unit of conversion

            3. the cost per unit transferred to finished goods

 

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