View History Bookmarks Window Help Ch. 14, 15, 16 6 Help Save & Ex Required info

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View History Bookmarks Window Help Ch. 14, 15, 16 6 Help Save & Ex Required information The following information applies to the questions displayed below The following partially completed process cost summary describes the July production activities of Ashad Company Its production output is sent to its warehouse for shipping All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. of 2 Units transferred out Units of ending vork in process Equivalent units of production 00 U Costs of begineing work in process Costs ineurzed this per Lod Total costs $ 4,950 5,360 490 050280:730 534.000 286,090 Unita in beginning vork in process rall conpleted during July) units started thi?period Ueita conpleted and transterred out Units in ending work in process 0, 500 4,500 8 3 5

Explanation / Answer

Weighted Average method:

FIFO method:

Costs Charged to Production Costs of beginning work in process 49310 Costs incurred this period 770780 Total costs to account for 820090 Total costs accounted for 820090 *Difference due to rounding cost/unit 0 Unit reconciliation Units to account for Beginning work in process 4000 Units started this period 40500 Total units to account for 44500 Total units accounted for Units completed and transferred out 40000 Ending work in process 4500 Total units accounted for 44500

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