O Not Secure ezto.mheducat tpx? 0.51610297805426 1533358231867 Questions 1-3 jo4
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O Not Secure ezto.mheducat tpx? 0.51610297805426 1533358231867 Questions 1-3 jo4 Problem 16-2A Weighted average: Cost per equivalent unit costs assigned to products LO C2, C3 The tolowing information apples to the questions displayed below Victery Company uses wegheed-nverage process costing to account for its prodluction casts Canversion cost is edced evenly throaghout the process Direct maseriais are added at the beginning of the proceis During Novembet the company tansfoned 800000 sts of groduct to frished goods. At the end proceas Inventoy conaists of wth respect to coversion Beginning inven had 5323375 of drect maneras and 5167300 of cenversion cost. The cost sdded in Navember's $2.164125 a he conversien cast added $3,78700 reg work roce ta consisted ef noo nts tat were 100 % conglate with 'esped to drea metereis 80% compete with respeet to cannon or ho urs conpleted 7.000 were tom begiring work in process and 722000 unts were started and complened duing the perioc Section Break Problem 16-2A Welighted everege: Cost per equlvelent unit, costs assigned to products LO C2, C3 375 points Problem 16-2A Part 1 1. Determine the equivaient u units of production with respect t o drect materials and corversion % Materials EUP. M Total urits F3 F7 8 2 4Explanation / Answer
1) Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP Materials % Conversion EUP Conversion Units completed and transferred to finished goods 800000 100 800000 100 800000 Ending Work in process 195000 100 195000 30 58500 Total 995000 995000 858500 2) Cost per equivalent unit of production Materials Conversion Cost of beginning work in process 323375 167300 Costs incurred during the period 2164125 3178700 Total costs to be accounted for Costs 2487500 Costs 3346000 5833500 ÷Equivalent units of production EUP 995000 EUP 858500 Cost per equivalent unit of production (rounded to 2 decimal places) 2.50 3.9 3) . Cost of units transferred out: EUP Cost per EUP Total Cost Direct Materials 800000 2.50 2000000 Conversion 800000 3.90 3120000 ` Total cost of transferred out units 5120000 Cost of ending work in process: EUP Cost per EUP Total Cost Direct Materials 195000 2.50 487500 Conversion 58500 3.90 228150 Total cost of ending work in process 715650 Total costs accounted for 5835650 -2150 Difference due to rounding off. Note: Please check the figures entered as some of them are not very clear in the image.
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