Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Materils Labor Overhead

Work in progress, May 1 $18,000 $5,500 $27,500

Cost added during May $238,900 $80,300 $401,500

Equivalent units of production 35,000 33,000 33,000

1. Compute the cost per equivalent unit for materials, for labor, and for overhead.

2. Compute the total cost per equivalent whole unit

6. why the aggregate supply curve slopes upward in the short run in the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. several theories explain how this might happen. for example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. consider a soybean farmer who expects a price level of 100 in the coming year. if the actual price level turns out to be 90, soybean prices will , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by the quantity of soybeans supplied. if other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to the natural level of output in the short run.