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i need some help please
Elliott Company produces large quantities of a standardized product. The following information is available for the first pro
Unit Reconciliation: Units to account for: Total units to account for Total units accounted for Total units accounted for Equ
Total units Cost per Equivalent Unit of Production Materials Conversion Costs Costs EUP EUP Cost per EUP Total cost Total cos
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Answer #1
Total Costs to Account for:
Beginning work in process inventory 16050
Costs incurred this period 619470
Total costs to account for 635520
Total costs accounted for 635520
Difference due to rounding cost/unit 0
Unit Reconciliation:
Units to account for:
Beginning work in process inventory 3000
Units started this period 30000
Total units to account for 33000
Total units accounted for:
Units completed and transferred out 27000
Ending work in process 6000
Total units accounted for 33000
Equivalent Units of Production (EUP)-Weighted Average Method
Units % Materials EUP-Materials % Conversion EUP-Conversion
Units completed and transferred out 27000 100% 27000 100% 27000
Ending work in process 6000 100% 6000 35% 2100
Total units 33000 29100
Cost per Equivalent Unit of Production Materials Conversion
Cost of beginning work in process 3450 12600
Costs incurred this period 213030 406440
Total costs Costs 216480 Costs 419040
÷ Equivalent units of production EUP 33000 EUP 29100
Cost per equivalent unit of production (rounded to 2 decimals) 6.56 14.40
Total Costs Accounted for:
Cost of units transferred out: EUP Cost per EUP Total Cost
Direct materials 27000 6.56 177120
Conversion 27000 14.40 388800
Total costs transferred out 565920
Costs of ending work in process EUP Cost per EUP Total Cost
Direct materials 6000 6.56 39360
Conversion 2100 14.40 30240
Total cost of ending work in process 69600
Total costs accounted for 635520
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