3.00 points During April, the production department of a process manufacturing s

Question

3.00 points 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, 84,000 were in process in the production department at the beginning of April and 336,000 were started and completed in April. April's begning inventory units were 80% complete with resped to materials and 20% complete with respect to conversion. At the end of April, 106,000 additional units were in process in the production department and were 80% complete with respect to materials and 3 complete with respect to conversion. The production department had $1,804,728 of direct materials and $948,474 of t during Apnil. Also, its beginning inventory of $287,068 consists of $214,472 of atect materials cost and $72.594 of conversion costs. cost charged to 1&2. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign Aprils costs to the department's output (Round "Cost per EUP to 2 decimal places) Units Units in ending inventory Units completed and transfermed out Costs incurred this period Costs of beginning inventory Total costs 504,800 451,800 Costs8osts EUP 51,800 EUP Total costs to account for Total c 0.00 costs accounted for S0 8

Explanation / Answer

Details Units % Materials Eq Unit Materials % Conversion Eq unit Conversion Opening WIP                84,000 80%             67,200 20%                16,800 Started in April             441,000           436,600             434,000 Total input             525,000           503,800             450,800 Output Transferred             419,000 100%           419,000 100%             419,000 Trasferred 84000+3350000) Closing WIP             106,000 80%             84,800 30%                31,800 Total Output             525,000           503,800             450,800 Total Costs Materials Convesrion Total Opening Stock             214,472             72,594           287,066 Incurred in April          1,804,728           948,474       2,753,202 Total          2,019,200       1,021,068       3,040,268 Equivalent Units Produced             503,800           450,800 Cost Per Equivalent Unit $                4.01 $              2.27 Cost Allocation Total Costs Materials Convesrion Total Cost Per Equivalent Unit $                4.01 $              2.27 Transferred Godd Eq Units             419,000           419,000 Cost of Transferred Units          1,679,327           949,041 $   2,628,367 Eq Units in closing stock                84,800             31,800 Cost of WIP             339,873             72,027 $      411,901 Total costs of output $   3,040,268

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