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Timing Technology, Inc. manufactures timing devices. During20x1, 1,300,000 units were completed and transferred tofinished-goods inventory. On December 31, 20x1, there were 310,000units in work in process. These units were 47 percent complete asto conversion and 100 percent complete as to direct material.Finished-goods inventory consisted of 364,000 units. Materials areadded to production at the beginning of the manufacturing process,and overhead is applied to each product at the rate of 100 percentof direct-labor costs. There was no finished-goods inventory onJanuary 1, 20x1. A review of the inventory cost records disclosedthe following information:CostsUnitsMaterialsLaborWork in process, January 1, 20x1300,000$306,000$313,400(82% complete as to conversion)Units started in production1,310,000Direct-material costs$2,270,000Direct-labor costs$2,433,430Problem 4-25 Part 33. Complete the following schedule as ofDecember 31, 20x1, to compute the costs per equivalent unit formaterial and conversion. (Round "Cost per Equivalent Unit"to 2 decimal places.)