Please answer Exercise from Chapter 17: E17-21 and E17-24.Accounting

You can answer the following Exercises from Chapter 17: E17-21 or E17-24.
This problem can be solved using Microsoft Word (or Excel).
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Total costs divided by the total unit cost is equal to one-time unit cost.

The total cost = $1,605,000 Units total = 5,000   

So, unit costs = 1.605,000/5,000

$121 per unit


Starter Units = 5,000 (February).

Total completed units in February = 4,040

Partially completed units (February), = 1000

Direct Material @ 100% = $800,000 

Conversion cost for unit $805,000 = 5 000 

conversion cost for 1000 unit in process= 805,000*1000)/5000 = $ 161,000

conversion cost of 1000 unit in process= 60% * $ 161,000 = $96,600

Thus, the conversion cost per 1000 unit is $96,600

conversion cost of complete 4000 units = (805,000*4000)/5000 = $644,000

The total cost of conversion in February was $644,000+ 96,000= $740 600

The total cost of February was $740,600 + 800,000 = $1,540,600

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