Michelangelo's Pizza Company Makes Pizzas

Essay

Michelangelo's Pizza Company makes pizzas.The company uses process costing.All direct materials are introduced at the start of the process.Conversion costs are incurred evenly throughout the process.In February,there was no beginning Work-in-Process Inventory,but 490,000 units were started.At the end of February,there were 90,000 units still in process at the 70% level of completion.Total costs incurred during February were $1,212,500 for materials and $3,664,000 for conversion costs.
Required:
A)Compute the number of units completed and transferred.
B)Compute the equivalent units for materials and conversion costs.
C)Compute the cost per equivalent unit for materials and conversion costs.Round to two decimal places.
D)Compute the cost of the units completed and transferred.
E)Compute the cost of ending work-in-process inventory.