Computation of Equivalent units - Fields Company
|Particulars||Physical Units||Equivalent units|
|Work in Process, beginning||34500|
|Started during the current period||490000|
|Total units to account for||524500|
|Units accounted for:|
|Unit completed & Transferred out||494500||494500||494500|
|Equivalent units of production||524500||520000||505000|
| Fields Company |
Computation of Cost per equivalent unit of Production
|Cost Added during Period||$1,800,200.00||$1,179,000.00|
|Total cost to be accounted for||$1,856,400.00||$1,201,900.00|
|Equivalent units of production||520000||505000|
|Cost per Equivalent unit||$3.57||$2.38|
| Fields Company |
Computation of Cost of ending WIP and units completed & transferred out
|Equivalent unit of Ending WIP||25500||10500|
|Cost per equivalent unit||$3.57||$2.38|
|Cost of Ending WIP (Equivalent unit * Cost per equivalent unit)||$91,035||$24,990||$116,025|
|Units completed and transferred||494500||494500|
|Cost of units completed & Transferred (Unit completed * cost per equivalent unit)||$1,765,365||$1,176,910||$2,942,275|
| Fields Company |
|Costs to be accounted for:|
|Cost of beginning WIP inventory||$79,100.00|
|Cost added to production||$2,979,200.00|
|Total Cost to be accounted for||$3,058,300.00|
|Costs accounted for as follows:|
|Cost of unit transferred out||$2,942,275|
|Total cost accounted for||$3,058,300.00|
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