Use the following data of Daylight Incorporation, a company using a process cost

Question

Use the following data of Daylight Incorporation, a company using a process costing system, to answer the questions below.

The company uses average process costing method.

Equivalent units for direct materials of Daylight during the month totaled

Beginning Work in Process Inventory on September 1: 2,000 units—100 percent complete as to direct materials                      75 percent complete as to conversion costs Units Started During September: 7,500 units Ending Work in Process Inventory on September 30: 1,800 units—100 percent complete as to direct materials                      55 percent complete as to conversion costs

Explanation / Answer

Equivalent units for direct materials:

Begining+units started for month

=(100%*2000)+7500

=$9500

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