Answer:
1. Compound X started in first quarter = 50,000 Barrels + 20,000 Barrels
Compound X started in first quarter = 70,000 Barrels.
2. Finished goods unit = 50,000
Finished goods completed % = 100%
Finished goods equivalent Units = 50,000 * 100% = 50,000
Work in process unit = 20,000
Work in process completed % = 55%
Work in process equivalent Units = 20,000*55% = 11,000
Total Equivalent Unit = 50,000 + 11,000 = 61,000
Cost per equivalent unit = $231800/61000 = $3.80
Total cost = [Finished goods equivalent Units*Cost per equivalent unit] + [Work in process equivalent Units*Cost per equivalent unit]
Total cost = 50,000*$3.80 + 11,000*$3.80
Total cost = $190,000 + $41,800
Total cost = $231,800
