Woodchuck Timber Pty Ltd grows, harvests and processes
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.