Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for distribution to its retail sales department.Direct materials are added at the initiation of the cycle.Conversion costs are incurred evenly throughout the production cycle.Before inspection,some fillets are spoiled due to undetectable defects.Inspection occurs when units are 45% converted.Spoiled fillets generally constitute 6% of the good fillets.Data for April 2017 are as follows:

Costs for April:

What is the total cost per equivalent unit using the weighted-average method of process costing? (Round any cost per unit calculations to the nearest cent. )

Question

Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for distribution to its retail sales department.Direct materials are added at the initiation of the cycle.Conversion costs are incurred evenly throughout the production cycle.Before inspection,some fillets are spoiled due to undetectable defects.Inspection occurs when units are 45% converted.Spoiled fillets generally constitute 6% of the good fillets.Data for April 2017 are as follows:

Costs for April:

What is the total cost per equivalent unit using the weighted-average method of process costing? (Round any cost per unit calculations to the nearest cent. )

Costs for April:

What is the total cost per equivalent unit using the weighted-average method of process costing? (Round any cost per unit calculations to the nearest cent. )

Quizplus · Accepted Answer

11ea8a5a_a067_105d_a19c_51a917494d53_TB5540_00_TB5540_00_TB5540_00 * Equivalent unit calculations:
Direct Materials: 85,000 + 134,000 = 219,000 units
Conversion Costs: 186,000 + 6000 + (27,000 x 25%)= 198,750 units
Total cost per equivalent unit = $2.03 + $2.02 = $4.05

Fish Fillet Incorporated Obtains Fish and Then Processes Them into Frozen