Funtime Inc. makes small toys in a one-department production process. Beginning
ID: 2388776 • Letter: F
Question
Funtime Inc. makes small toys in a one-department production process.
Beginning Inventory: 15,000 toys (60% complete to labor; 75% complete as to overhead)
Started into production: plastic for 620,000 toys
Ending WIP Inventory: 25,400 toys (35% complete as to labor; 60% complete as to overhead)
a) Compute the EUP for direct material; direct labor; and overhead using weighted average process costing. (template for answer is below)
Beginning WIP inventory ?
Started ?
To account for 635,000
Beginning WIP inventory ?
Started and completed ?
Ending WIP ?
Accounted for 635,000
Units DM DL OH
Beginning WIP inventory ? ? ? ?
Started & completed ? ? ? ?
Ending WIP inventory ? ? ? ?
Equivalent units 635,000 635,000 618,490 624,840
Explanation / Answer
Units
Beginning WIP inventory
15,000
Units started
620,000
Ending WIP
25,400
Units started and completed
660,400
Units
DM
DL
OH
Beginning WIP inventory
609,600
609,600
609,600
25,400 X 100%
25,400
25,400 X 35%
8,890
25,400 X 60%
15,240
Equivalent units
635,000
618,490
624,840
Units
Beginning WIP inventory
15,000
Units started
620,000
Ending WIP
25,400
Units started and completed
660,400
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