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22 May, 14:51

Livingston Co. uses process costing to account for the production of elastic bands. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory consisted of $14,000 in materials and $8,000 in conversion costs. April costs were $72,000 for materials and $80,000 for conversion costs. During April 8,000 units were completed. Ending work in process inventory was 4,000 units (100% complete for materials, 50% for conversion). The total cost per unit using the weighted average method would be:

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  1. 22 May, 15:03
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    The total cost per unit using the weighted average method would be:

    $15,97

    Explanation:

    Materials Conversion Costs

    Begining $ 14,000 $ 8,000

    APRIL $ 72,000 $ 80,000

    TOTAL $ 86,000 $ 88,000

    Units 8,000 8,000

    100% 50%

    WIP 4,000 2,000

    TOTAL 12,000 10,000

    USD/Unit 7,17 8,80 $15,97
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