Woodchuck Timber Pty Ltd grows, harvests and processes timber for use in the building industry. The following data relate to the company’s sawmill during June:
|Work in process, 1 June:|
|Costs incurred during June:|
The equivalent units for June were as follows:
a) Calculate the cost per equivalent unit, for both direct material and conversion, during June. Use weighted average process costing.
b) Repeat requirement 1 using the FIFO method.