Required 1 & 2 | |||||
Equivalent Units of Production (EUP)- Weighted Average Method | |||||
Units | % Materials | EUP- Materials | % Conversion | EUP- Conversion | |
Units in ending inventory | 106000 | 80% | (106000*80%)= 84800 | 30% | (106000*30%)= 31800 |
Units completed and transferred out | 420000 | 100% | 420000 | 100% | 420000 |
Equivalent units or production | 526000 | 504800 | 451800 | ||
Cost per Equivalent Unit of Production | Materials | Conversion | |||
Cost of beginning inventory | $339208 | $26430 | |||
Cost incurred this period | 1452832 | 1035300 | |||
Total costs | Costs | $1792040 | Costs | $1061730 | |
Equivalent Units off Production | EUP | 504800 | EUP | 451800 | |
Cost per equivalent unit of production | $3.55 | $2.35 | |||
Total Cost to Account for | |||||
Direct materials- Prior period | $339208 | ||||
Direct materials- Current period | 1452832 | ||||
Conversion- Prior period | 26430 | ||||
Conversion- Current period | 1035300 | ||||
Total cost to account for | $2853770 | ||||
Total cost accounted for | 2853770 | ||||
Difference due to rounding cost/unit | $0 | ||||
Required 3 | |||||
Cost Assignment and Reconciliation | EUP | Cost per EUP | Total cost | ||
Cost of units transferred out | |||||
Direct materials | 420000 | $3.55 | $1491000 | ||
Conversion | 420000 | $2.35 | 987000 | ||
Total cost transferred out | $2478000 | ||||
Cost of ending work in process | EUP | Cost per EUP | Total cost | ||
Direct materials | 84800 | $3.55 | $301040 | ||
Conversion | 31800 | $2.35 | 74730 | ||
Total cost of ending work in process | $375770 | ||||
Total cost accounted for | $2853770 | ||||
im looking to fill all the blank places. Thanks! Required information The following information s to...
Required Information The following information applies to the questions displayed below.) During April, the first production department of a process manufacturing system completed its work on 375,000 units of a product and transferred them to the next department. Of these transferred units, 75,000 were in process in the production department at the beginning of April and 300.000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to...
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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, 73,000 were in process in the production department at the beginning of April and 292.000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and...
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Required information 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, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the...
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, 74,000 were in process in the production department at the beginning of April and 296.000 were started and completed in April. April's beginning inventory units were 80% complete with respect to materials and...
Required information 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, 70.000 were in process in the production department at the beginning of April and 280,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the...
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below. During April, the first production department of a process manufacturing system completed its work on 300,000 units of a product and transferred them to the next department. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) During April, the first production department of a process manufacturing system completed its work on 350,000 units of a product and transferred them to the next department of these transferred units, 70,000 were in process in the production department at the beginning of April and 280,000 were started and completed in April. April's beginning inventory units were 60% complete with respect...