Problem
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
|
$
|
25,900
|
$
|
42,021
|
$
|
204,540
|
|
Cost added during May
|
$
|
157,250
|
$
|
28,014
|
$
|
136,360
|
|
Equivalent units of production
|
|
2,200
|
|
2,100
|
|
2,000
|
Required:
1. Compute the cost per equivalent unit for materials, for labor, and for overhead.
2. Compute the total cost per equivalent whole unit.