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Lakeland Manufacturing adds direct materials at the beginning of the process, an...
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Lakeland Manufacturing adds direct materials at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 60% complete with respect to conversion; the ending work-in-process inventory is 20% complete. The following data pertain to May:
|
Units
|
| |
Work in process, May 1
|
15,000
|
| |
Units started during May
|
60,000
|
| |
Units completed and transferred out
|
68,000
|
| |
Work in process, May 31
|
7,000
|
| |
|
Total
|
Direct Materials
|
Conversion Costs
|
Costs:
|
|
|
|
Work in process, May 1
|
$ 41,250
|
$ 16,500
|
$ 24,750
|
Costs incurred during May
|
234,630
|
72,000
|
162,630
|
Totals
|
$ 275,880
|
$ 88,500
|
$ 187,380
|
Using the weighted-average
method of process costing, the cost per unit of conversion activity is: