Question

Required information [The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Equivalent Units of Production Direct Materials Conversion Units transferred out 37,000 EUP 37,000 EUP Units of ending work in process 4,500 EUP 2,700 EUP Equivalent units of production 41,500 EUP 39, 700 EUP Costs per EUP Costs of beginning work in process costs incurred this period Total costs Direct Materials $ 41,850 431,250 $ 473,100 Conversion $4,880 237,290 $242,170 Units in beginning work in process (all completed during July) 4,000 Units started this period 37,500 Units completed and transferred out 37,000 Units in ending work in process 4,500 Prepare its process cost summary using the weighted-average method. (Round "Cost pe EUP" to 2 decimal places.)

Answer 1

Ashad Company - Molding department process Cost summery (weighted average method) $431,250 Costs Charged to production: costs of beginning work in process Direct materials $41,850 Conversion 4,880 46,730 Costs incurred this period Direct materials Conversion 237,290 668,540 Total costs to account fol $715,270 - Unit Information Units to account foli unts accounted for a Beginning work in process 4,000 | Completed and trausfuel 37,000 Units started this period 37,500/ Ending work in procesa Lei 500 Total owits to account ful 141,500 | Total Units accounted for 141,500 - Equivalent Units of production [Eup ] Direct Materials Conversion Units completed and transferred out 37,000 Eup 37,000 Eup [37000 x 100%. ] Units of ending work in process Direct materials [u, Toox 100%] 4,500 EUP conversion [Given 2,700 EUP Equivalent units of production Out 41.500 Eup 39, 700 Up

Direct materials Conversion $41,850 $4,880 237,290 Cost per EUR: Costs of beginning work in a procells Costo incurred this period Total costs - EUP Cost per Eup $242, 170 431,250 $473,100 41,500 EUR $11.4 per Eup 39,700 Eup $6.1 per Eup - Cost Assignment and Reconciliation Costs transferred out Direct materials [37,000 Eupx $11.4 Pa EUP] - $421,800 conversion [37,000 EUPx $ 6-1 pe Eup – 205,700 647,500 costs of ending work in process Direct materials [24500 Eup x $ 11-4 per Eup 51,300 conversion [2,700 Eup x $61per Eup 16,470 67,770 Total costs accounted for $715,270