Required information The following information applies to the questions displaye

Question

Required information The following information applies to the questions displayed below] During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 64,000 were in process in the production department at the beginning of April and 256,000 were started and completed in April. April's beginning inventory units were 80% complete with respect to materials and 20% complete with respect to conversion. At the end of April, 86,000 additional units were in process in the production department and were 85% complete with respect to materials and 35% complete with respect to conversion.

Explanation / Answer

Production cost report :

Units % materials EUP-materials % Conversion EUP-Conversion Units transferred out 320000 100% 320000 100% 320000 Ending work in process 86000 85% 73100 35% 30100 Equivalent unit of production 406000 393100 350100 Cost per equivalent unit of production Material Conversion Beginning work in process 133979 14668 Cost added during april 868426 755552 Total cost 1002405 770220 Equivalent unit of production 393100 350100 Cost per equivalent unit of production 2.55 2.20 Total cost to accounted for Beginning work in process 148647 Cost added during april 1623978 Total cost accounted for 1772625 Cost assignment and reconcilation Cost of units transferred out EUP Cost per EUP Total cost Direct materials 320000 2.55 816000 Conversion 320000 2.20 704000 Total cost transferred out 1520000 Cost of ending work in process EUP Cost per EUP Total cost Direct material 73100 2.55 186405 Conversion 30100 2.20 66220 Total cost of ending work in process 252625 Total cost accounted for 1772625

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