Required information Use the following information for the Exercises below. The
ID: 2339767 • Letter: R
Question
Required information 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, 66,000 were in process in the production department at the beginning of April and 264,000 were started and completed in April April's beginning inventory units were 65% complete with respect to materials and 35% complete with respect to conversion. At the end of April, 88,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion Exercise 16-9 Weighted average: Costs assigned to output and inventories LO C2 The production department had $918,775 of direct materials and $723.261 of conversion costs charged to it during April. Also, its beginning inventory of $185,284 consists of $142.285 of direct materials cost and $42,999 of conversion costs. 182. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign Aprit's costs to the department's output. (Round "Cost per EUP to 2 decimal places.)Explanation / Answer
Answer
Units Reconciliation
Units to account for:
Beginning WIP
66,000
Units started this period
352,000
Total Units to account for
418,000
Total Units accounted for:
Completed & Transferred out
330,000 [66000 + 264000]
Ending WIP
88,000
Total Units accounted for
418,000
EUP - Weighted Average Method
Units
% Material
EUP Materials
% Conversion
EUP - Conversion
Units of ENDING WIP
88,000
80%
70,400
30%
26,400
Units TRANSFERRED
330,000
100%
330,000
100%
330,000
Equivalent Units of Production
418,000
400,400
356,400
COST per EUP
Material
Conversion
Cost of Beginning WIP
$ 142,285.00
$ 42,999.00
Cost incurred during the period
$ 918,775.00
$ 723,261.00
Total Costs
Costs
$ 1,061,060.00
Costs
$ 766,260.00
Equivalent units of production
EUP
400,400
EUP
356,400
Cost per EUP
$ 2.65
$ 2.15
Total Cost to account for:
Cost of beginning WIP
$ 185,284.00
Costs incurred this period
$ 1,642,036.00
Total Cost to account for
$ 1,827,320.00
Total costs accounted for
$ 1,827,320.00
Difference due to rounding cost/unit
$ -
TOTAL COST ACCOUNTED FOR
Cost of Units Transferred Out
EUP
Cost per EUP
Total Cost
- Direct Materials
330,000
$ 2.65
$ 874,500.00
- Conversion
330,000
$ 2.15
$ 709,500.00
Total Cost transferred Out
$ 1,584,000.00
Costs of Ending WIP:
EUP
Cost per EUP
Total Cost
- Direct Materials
70,400
$ 2.65
$ 186,560.00
- Conversion
26,400
$ 2.15
$ 56,760.00
Total cost of ending WIP
$ 243,320.00
Total costs accounted for
$ 1,827,320.00
Units Reconciliation
Units to account for:
Beginning WIP
66,000
Units started this period
352,000
Total Units to account for
418,000
Total Units accounted for:
Completed & Transferred out
330,000 [66000 + 264000]
Ending WIP
88,000
Total Units accounted for
418,000
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