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.] 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, 83,000 were in process in the production department at the beginning of April and 332,000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April, 105,000 additional units were in process in the production department and were 90% complete with respect to materials and 4?% complete with respect to conversion. Exercise 20-9 Weighted average: Costs assigned to output and inventories LO C2 The production department had $1,529,595 of direct materials and $1,012,100 of conversion costs charged to it during April. Also, its beginning inventory of $292,655 consists of $253,655 of direct materials cost and $39,000 of conversion costs. 1&2. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department's output. (Round "Cost per EUP" to 2 decimal places.)

Explanation / Answer

UNITS TO ACCOUNT FOR: Beginning Work in Process units 83,000 Add: Units Started in Process 332,000 Total Units to account for: 415,000 UNITS TO BE ACCOUNTED FOR: Units started and completed 227,000 Ending Work in Process 188,000 Total Units to be accounted for: 415,000 Equivalent Units: Material Cost Conversion UNITS % Completion Units % Completion Units Units started and completed 227000 100% 227,000 100% 227,000 Ending Work in Process 188000 90% 169,200 40% 75,200 Total Equivalent units 415000 396,200 302,200 TOTAL COST TO ACCOUNT FOR: Material Conversion Beginning work in Process 253,655 39,000 Cost Added during May 1,529,595 1,012,100 Total Cost to account for: 1,783,250 1,051,100 Equivalent Units 396,200 302,200 Cost per Equivalent unit 4.500883 3.47816 TOTAL COST TO ACCOUNT: Direct material-Prior period 253655 Converison cost-Pprior period 39000 Direct material-Current year 1529595 Conversion-Current year 1012100 Total cost to account for 2834350 Total cost accounted for: 2834348 Difference due to rounding cost/unit 2 Cost Assignment and reconciliation: Units started and Transferred out (227000 units) Equivalent unit Cost per EU Total Cost Material 227,000 4.501 1021727 Conversion Cost 227,000 3.478 789506 Total Cost of Units completed and transferred out: 1811233 Ending Work in process (188000 units) Equivalent unit Cost per EU Total Cost Material 169,200 4.501 761569.2 Conversison Cost 75,200 3.478 261545.6 Total cost of Ending Work in process: 1,023,115 Total cost of accounts for 2,834,348

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.