30. on march 1, upton company’s packaging department had work in process inventory of 8,820 units, which had been transferred in from the finishing department. these units had accumulated costs of $315,000 in previous departments and $16,000 for conversion costs in the packaging department. during march, 30,000 units were transferred into the department. these units had accumulated costs of $770,000 in the previous departments. the packaging department incurred $54,000 in conversion costs during the month. on march 31, 700 units remained in ending inventory. these units were 80% complete with respect to conversion costs. compute the cost per equivalent unit for transferred-in costs and for conversion costs for the packaging department using the weighted average method.

The cost per equivalent unit for transferred-in costs and for conversion costs for the Packaging Department using the weighted average method is $27.95 and $1.81 respectively

Explanation:

For computing the  cost per equivalent unit for transferred-in costs and for conversion costs, first, we have to compute the transferred out units which is shown below:

= Beginning work in process inventory units + units transferred - ending work in process inventory units

= 8,820 units + 30,000 units - 700 units

= 38,120 units

Now for transferred-in costs, the per equivalent cost equal to

= (Accumulated costs + accumulated costs) ÷ (transferred out units +  ending work in process inventory units)

= ($315,000 + $770,000) ÷ (38,120 units + 700 units)

= $27.95

For conversion costs , the per equivalent cost equal to

= (Accumulated costs + accumulated costs) ÷ (transferred out units +  ending work in process inventory units × completion percentage)

= ($16,000 + $54,000) ÷ (38,120 units + 700 units × 80%)

= $1.81

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