Question

2 Required Information Use the following information for the Exercises below. (The following Information applies to the questions displayed below Part 2 of 2 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. Aprill's beginning inventory units were 70% complete with respect to matertals 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 materlals and 30 % complete with respect to conversion. 10 points or4007 eBook Exercise 16-9 Weighted average: Costs assigned to output and inventories LO C2 Ask The production department had $1,115,920 of direct materlals and $777192 of conversion costs charged to it during April. Also, Its beginning inventory of $205,948 consists of $167,920 of direct materlals cost and $38,028 of conversion costs 1&2. Using the welghted-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.) Equivalent Units of Production (EUP) Weighted Average Method EUP Materials Units % Materials % Conversion EUP-Conversion Units completed and transferred out Units in ending inventory Equivalent units of production se0,000 100% 300,000 100%) 300.000 85 % 35% Cost per Equivalent Unit of Production Materials Prest anininn inuatne Conversion

Answer 1

Equivalent units of production (EUP)- weighted average method
	Units	%Materials	EUP-Materials	%Conversion	EUP-Conversion
Units completed and transferred out	360000	100%	360000	100%	360000
Ending work in process	94000	80%	75200	30%	28200
Total units	454000		435200		388200
Cost per equivalent unit of production			Materials		Conversion
Cost of beginning work in process			167920		38028
Costs incurred this period			1115920		777192
Total costs		Costs	1283840	Costs	815220
÷ Equivalent units of production		EUP	435200	EUP	388200
Cost per equivalent unit of production			2.95		2.10
Total costs to account for:
Direct materials-Prior period	167920
Conversion costs-Prior period	38028
Direct materials-Current period	1115920
Conversion costs-Current period	777192
Total costs to account for	2099060
Total costs accounted for	2099060
Difference due to rounding cost/unit	0
Cost Assignment and Reconciliation
Cost of units transferred out	EUP	Cost per EUP	Total cost
Direct materials	360000	2.95	1062000
Conversion	360000	2.10	756000
Total cost transferred out				1818000
Cost of ending work in Process	EUP	Cost per EUP	Total cost
Direct materials	75200	2.95	221840
Conversion	28200	2.10	59220
Total Cost of ending work in Process				281060
Total cost accounted for				2099060