Question

Please show work on how you have obtained the calculations.
Required information [The following information applies to the questions displayed below.] 0.58 points 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. eBook Hint Direct Conversion Print Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Materials 40,500 EUP 40,500 EUP 2,500 EUP 1,500 EUP References 43,000 EUP 42,000 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials Conversion $ 20,100 $ 2,720 500,200 282,880 $520,300 $285,600 2,000 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 41,000 40,500 2,500

Answer 1

Answer

Total Cost to account for:
Cost of beginning WIP	$                      22,820.00
Costs incurred this period	$                    783,080.00
Total Cost to account for	$                    805,900.00
Total costs accounted for	$                    805,900.00
Difference due to rounding cost/unit	$                                      -
Units Reconciliation
Units to account for:
Beginning WIP	2,000
Units started this period	41,000
Total Units to account for	43,000
Total Units accounted for:
Completed & Transferred out	40,500
Ending WIP	2,500
Total Units accounted for	43,000

EUP - Weighted Average Method	Units	% Material	EUP Materials	% Conversion	EUP - Conversion
Units TRANSFERRED	40,500	100%	40,500	100%	40,500
Units of ENDING WIP	2,500	100%	2,500	60%	1,500
Equivalent Units of Production			43,000		42,000
COST per EUP			Material		Conversion
Cost of Beginning WIP			$          20,100.00		$                                    2,720.00
Cost incurred during the period			$        500,200.00		$                                282,880.00
Total Costs		Costs	$        520,300.00	Costs	$                                285,600.00
Equivalent units of production		EUP	43,000	EUP	42,000
Cost per EUP			$            12.10000		$                                      6.80000
TOTAL COST ACCOUNTED FOR
Cost of Units Transferred Out	EUP	Cost per EUP	Total Cost
- Direct Materials	40,500	$                    12.10	$        490,050.00
- Conversion	40,500	$                      6.80	$        275,400.00
Total Cost transferred Out				$            765,450.00
Cost of ending WIP	EUP	Cost per EUP	Total Cost
- Direct Materials	2,500	$                    12.10	$          30,250.00
- Conversion	1,500	$                      6.80	$          10,200.00
Total cost of ending WIP				$              40,450.00
Total costs accounted for					$                                805,900.00