167. Nano Company uses a process cost system and the weighted-average inventory valuation method. The Nano Assembly Department's beginning inventory consisted of 40,000 units that were three-fifths complete with respect to direct labor and overhead. The department started and finished 149,000 units with respect to direct labor and overhead. The ending inventory consists of 60,000 units that are three-fourths complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department Goods in Process account included direct labor costs of $292,500 and overhead costs of $140,400.(a) What is the direct labor cost per equivalent unit?(b) What is the overhead cost per equivalent unit?
168. Tanner, Inc. uses a process cost accounting system with weighted-average valuation method. The following operating and cost data occurred during October:
October 1, Inventory:
30,000 units
100% complete for materials
($82,500) and 50% complete
for direct labor ($10,500) and
overhead ($21,000) .
October 31, Inventory:
20,000 units
and 30% complete for
direct labor and overhead
Units completed during Oct.:
50,000 units
October production costs:
Direct materials
$110,000
Direct labor
28,700
Overhead
57,400
Materials are added at the beginning of the process. Direct labor and overhead are incurred evenly throughout the process. Prepare the October process cost summary.
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