Help Save & Exit s Use the following information for the Exercises below. [The f
ID: 2339708 • Letter: H
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Help Save & Exit s Use the following information for the Exercises below. [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, 70,000 were in process in the production department at the beginning of April and 280.000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 92,000 additional units were in process in the production department and were 85% complete with respect to materials and 35% complete with respect to conversion. Exercise 16-9 Weighted average: Costs assigned to output and inventories LO C2 charged to it during Apri. Also, its The production department had $1.062,050 of direct materials and $750,904 of conversion costs beginning inventory of $210,036 consists of $158.320 of direct materials cost and $51,716 of conversion costs. 182. Using the weighted-average method, April's costs to the department's output. (Round "Cost per EUP" to 2 decimal places.) compute the direct materials cost and the conversion cost per equivalent unit and assign Units of p ction Units rsion of m Next >Explanation / Answer
Answer
EUP - Weighted Average Method
Units
% Material
EUP Materials
% Conversion
EUP - Conversion
Units TRANSFERRED
350,000
100%
350,000
100%
350,000
Units of ENDING WIP
92,000
85%
78,200
35%
32,200
Equivalent Units of Production
428,200
382,200
COST per EUP
Material
Conversion
Cost of Beginning WIP
$ 158,320.00
$ 51,716.00
Cost incurred during the period
$ 1,062,050.00
$ 750,904.00
Total Costs
Costs
$ 1,220,370.00
Costs
$ 802,620.00
Equivalent units of production
EUP
428,200
EUP
382,200
Cost per EUP
$ 2.85
$ 2.10
Total Cost to account for:
Cost of beginning WIP
$ 210,036.00
Costs incurred this period
$ 1,812,954.00
Total Cost to account for
$ 2,022,990.00
Total costs accounted for
$ 2,022,990.00
Difference due to rounding cost/unit
$ -
TOTAL COST ACCOUNTED FOR
Cost of Units Transferred Out
EUP
Cost per EUP
Total Cost
- Direct Materials
350,000
$ 2.85
$ 997,500.00
- Conversion
350,000
$ 2.10
$ 735,000.00
Total Cost transferred Out
$ 1,732,500.00
Costs of Ending WIP:
EUP
Cost per EUP
Total Cost
- Direct Materials
78,200
$ 2.85
$ 222,870.00
- Conversion
32,200
$ 2.10
$ 67,620.00
Total cost of ending WIP
$ 290,490.00
Total costs accounted for
$ 2,022,990.00
---Working
Units Reconciliation
Units to account for:
Beginning WIP
70,000
Units started this period
372,000
Total Units to account for
442,000
Total Units accounted for:
Completed & Transferred out
350,000
Ending WIP
92,000
Total Units accounted for
442,000
EUP - Weighted Average Method
Units
% Material
EUP Materials
% Conversion
EUP - Conversion
Units TRANSFERRED
350,000
100%
350,000
100%
350,000
Units of ENDING WIP
92,000
85%
78,200
35%
32,200
Equivalent Units of Production
428,200
382,200
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