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

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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, 72,000 were in process in the production department at the beginning of April and 288,000 were started and completed in April April's beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of April, 94,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. Exercise 3-9 Weighted average: Costs assigned to output and inventories Lo C2 The production department had $1,115,920 of direct materials and $777,192 of conversion costs chorged to it during April. Also, its beginning inventory of $205,948 consists of $167,920 of direct materials cost and $38,028 of conversion costs 1&2. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign Apri's costs to the department's output. (Round "Cost per EUPT tO 2 decimal places ) quivalent Units of Production (EUP). Weighted Average Method Eup-Materials % Conversion EUp-Conver Units Equivalent units of production Prev lofl Next

Explanation / Answer

Equivalent Units statement Material Conversion Units Input Particulars Units Output % complete Equivalent units % complete Equivalent units 72000 Opening WIP 454000 Input Goods completed 360000 100% 360000 100% 360000.00 Closing WIP 166000 80% 132800 30% 49800.00 526000 526000 492800 409800 Cost per Equivalent production: Material Conversion Opening cost of WIP 167920 38028 Add: Current cost 1115920 777192 Total Cost 1283840 815220 Equivalent Units 492800 409800 Cost per Equivalent unit 2.605 1.989 Total cost to account for Material cost of Opening WIP 167920 Conversion cost of Opening Wip 38028 Material Cost of current month 1115920 Conversion cost of current month 777192 Total cost to account for 2,099,060 Total cost accounted for 2100996.2 Difference due to rounding off 1,936 Cost of units Transferred out EUP Cost per EUP Total Cost Direct Material 360000 2.605 937800 Conversion 360000 1.989 716040 Total cost of transferred out 1656000 Cost of Ending Inventory EUP Cost per EUP Total Cost Direct Material 132800 2.605 345944 Conversion 49800 1.989 99052.2 Total cost of Ending Inventory 444996.2 Total Cost accounted for 2100996.2

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