E3-7 Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost of Work in Process (Weighted-Average Method) [LO 3-2, 3-3] Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 46% for conversion) Direct materials 33,000 units 50,000 56,000 Conversion cost $ Number of units started 79,000 units April costs Direct materials 106,000 171,000 Conversion cost Work in process, April 30 (100% complete for materials, 29% for conversion) 36,000 units EA CA
E3-7 Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost of Work in Process (Weighted-Average Method) [LO 3-2, 3-3] Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 46% for conversion) Direct materials 33,000 units 50,000 56,000 Conversion cost $ Number of units started 79,000 units April costs Direct materials 106,000 171,000 Conversion cost Work in process, April 30 (100% complete for materials, 29% for conversion) 36,000 units EA CA
Chapter5: Process Costing
Section: Chapter Questions
Problem 8EB: A production department within a company received materials of $7,000 and conversion costs of $5,000...
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1. reconcile the number of physical units
2.calculate the number of equivalent units
3.calculate the cost per unit
4. record the total cost of work in process
I am unsure how to do this problem and keep getting it incorrect
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