The Cost Per Equivalent Units of Direct Materials and Conversion

question 27

Essay

The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $.47 and $.15, respectively. The equivalent units to be assigned costs are as follows.
The beginning work in process inventory had a cost of $3,500. Determine the cost of completed and transferred out production, and the ending work in process inventory.

---

Definitions:

Regression Model

A statistical approach for estimating the relationships among variables, often one dependent variable and one or more independent variables.

Predict

The act of making educated guesses about the future based on current or past data, often an essential part of statistical analysis and planning.

Variable

An element, feature, or factor that is liable to vary or change.

Direct Relationship

A situation where two variables move in the same direction, meaning that as one variable increases, the other also increases, or as one decreases, the other also decreases.