The CEO of Rajos Manufacturing has asked you to compile production data for the assembly department for the month of June. The company uses a process cost accounting system. The department adds direct materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During June, $207,000 of direct materials costs and $97,500 in conversion costs were charged to the department. The beginning Work in Process inventory was $59,260 on June 1, comprised of $37,900 of direct materials costs and $21,360 of conversion costs. The company employs the weighted-average method of process costing.
Other data for the month of June are as follows:Beginning Work in Process inventory, 6/124,000 units (40% complete)Units completed and transferred out47,000 unitsEnding Work in Process inventory, 6/3032,000 units (30% complete)
Required:1. How many physical units have to be accounted for in June? [1 mark]2. What are the equivalent units of production for direct materials and for conversion costs for the month of June? [2 marks]3. What is the direct material cost per unit? [1 mark]4. What is the conversion cost per unit? [1 mark]5. What is the total cost of the June 30 work in process inventory? [1 mark]
Please show all calculations. Students will not receive any marks for the correct answer if supporting calculations are not provided