Required information Use the following information for the Exercises below [The

Question

Required information Use the following information for the Exercises below [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. Direct Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Materials Conversion 41,500 EUP 41,500 EUP 3,500 EUP 2,100 EUP 45,000 EUP 43,600 EUP Direct Materials Conversion Costs per EU Costs of beginning work in process Costs incurred this period Total costs 4,200 301,000 305,200 32,700 520,800 $553,500 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,000 42,000 41,500 3,500

Explanation / Answer

Solution:

Unit Reconciliation Particulars Amount Units to account for: Beginning WIP 3000 Unit started this period 42000 Total units to account for 45000 Total units accounted for: Completed and transferred out 41500 Ending WIP 3500 Total units accounted for 45000

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