1) | Equivalent Units of Production (EUP) - Weighted Average Method | ||||||||
Units | % Mat. | EUP- Mat. | % Conv. | EUP- Conv. | |||||
Units completed and transferred out | 510000 | 100% | 510000 | 100% | 510000 | ||||
Units in ending inventory | 120000 | 75% | 90000 | 25% | 30000 | ||||
Equivalent units of production | 600000 | 540000 | |||||||
2) | Cost per Equivalent Unit of Production | |||||||
Materials | Conversion | |||||||
Beginning costs | $ 48,100.00 | $ 17,900.00 | ||||||
During the month costs | $ 515,900.00 | $ 381,700.00 | ||||||
Total cost | Costs | $ 564,000.00 | Costs | $ 399,600.00 | ||||
÷ | Equivalent units of production | EUP | 600000 | EUP | 540000 | |||
Cost per equivalent unit of production | $ 0.94 | $ 0.74 |
3) | Cost of ending work in process | EUP | Cost/ EUP | Total Cost | |||
Direct Materials | 90000 | $ 0.94 | $ 84,600.00 | ||||
Conversion | 30000 | $ 0.74 | $ 22,200.00 | ||||
Total cost of ending work in process | $ 106,800.00 |
4) | Cost of units transferred out | EUP | Cost/ EUP | Total Cost | |||
Direct Materials | 510000 | $ 0.94 | $ 479,400.00 | ||||
Conversion | 510000 | $ 0.74 | $ 377,400.00 | ||||
Total costs transferred out | $ 856,800.00 |
5) | Cost Reconciliation | |||
Beginning Material | $ 48,100.00 | |||
Beginning Conversion | $ 17,900.00 | |||
Current Material | $ 515,900.00 | |||
Current Conversion | $ 381,700.00 | |||
Total costs to account for | $ 963,600.00 | |||
Total costs accounted for | $ 963,600.00 |
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Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 70% 40% Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 100% 75% Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 70% 408 Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 70% 40% Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 70% 408 Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 708 40% Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 1000 750 Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 1000 250 Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 700 400 Work in process, beginning Started into production Completed and...
Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Materials Conversion 700 400 Work in process, beginning Started into production Completed and...