Question

Required Information [The following information applies to the questions displayed below] The following partially completed process cost surmary 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 Equivalent units of Production Units transferred out units of ending work in process Equivalent units of production Direct Materials 35,000 FUP 2.500 EUP 37,500 EUP conversion 35,00 EUP 1.509 FUP 36,500 FUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Materials $ 18.45 394.se $ 412.50 Conversion $ 2.200 205,779 5 208,ese Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in coding work in process 2.ee 35. See 35.ee 2.500

Answer 1

A C D E FT 1 Total costs to account for 2 Costs of beginning work in process $ 20,730 3 Costs incurred this period $ 599,820 4 Total costs to account for $ 620,550 5 Total costs accounted for $ 620,550 6 *Difference due to rounding cost/unit $ 7 Unit reconciliation 8 Units to account for 9 Beginning work in process inventory - units 2000 10 Units started this period 35,500 11 Total units to account for 37,500 12 Total units accounted for 13 Units Completed and transferred out 35,000 14 Ending work in process - units 2,500 15 Total units accounted for 37,500 16 Equivalent Units Of Production (EUP)- Weighted Average Method 17 Units % Materials EUP-Materials % Conversion Eup Conversion 18 Units Completed and transferred Out 35,000 100% 35,000 100% 35,000 19 Ending work in process - units 2,500 100% 2,500 60% 1,500 20 Equivalent units of production 37,500 37,500 36,500

Materials $ 18,450 $ 394,050 $ 412,500 costs 37500 EUP $ 11.00 Conversion $ 2,280 205,770 $ 208,050 36500 $ 5.70 costs EUP 21 22 Cost per EUP 23 Cost of beginning work in process 24 Cost incurred this period 25 Total costs 26 Equivalent units of production 27 Cost per Equivalent Unit of Production 28 Total costs accounted for 29 Costs transferred out 30 Direct materials 31 Conversion 32 Total transferred out 33 Costs of ending work in process 34 Direct materials 35 Conversion 36 Total ending work in process 37 Total costs accounted for EUP Cost per EUP Total cost 35,000 $ 11.00$ 385,000 35,000 $ 5.70 $ 199,500 $ 584,500 EUP Cost per EUP Total cost 2,500 $ 11.00 $ 27,500 1,500 $ 5.70 $ 8,550 $ $ 36,050 620,550

| А C D E F 1 Total costs to account for 2 Costs of beginning work in process =18450+2280 3 Costs incurred this period =394050+205770 4 Total costs to account for =+B2+B3 5 Total costs accounted for =+E37 6 *Difference due to rounding cost/unit =+B4-B5 7 Unit reconciliation 8 Units to account for 9 Beginning work in process inventory - units 10 Units started this period 35500 11 Total units to account for =+B9+B10 12 Total units accounted for 13 Units Completed and transferred out 35000 14 Ending work in process - units 2500 15 Total units accounted for =+B13+B14 16 Equivalent Units Of Production (EUP)-Weighted Average Method 17 Units % Materials EUP-Materials % Conversion Eup Conversion 18 Units Completed and transferred Out =+B13 =+B18*C18 1 =+B18*E18 19 Ending work in process - units =+B14 =+B19*C19 =+F19/B19 1500 20 Equivalent units of production =+B18+B19 =+D18+D19 36500

Materials 18450 394050 =+D23+D24 =+D20 =+D25/D26 Conversion 2280 205770 =+F23+F24 =+F20 =+F25/F26 costs EUP EUP 21 22 Cost per EUP 23 Cost of beginning work in process 24 Cost incurred this period 25 Total costs 26 Equivalent units of production 27 Cost per Equivalent Unit of Production 28 Total costs accounted for 29 Costs transferred out 30 Direct materials 31 Conversion 32 Total transferred out 33 Costs of ending work in process 34 Direct materials 35 Conversion 36 Total ending work in process 37 Total costs accounted for EUP =+D18 =+F18 Cost per EUP Total cost =+D27 =+B30*C30 =+F27 =+B31*C31 =+D30+D31 EUP =+D19 =+F19 Cost per EUP Total cost =+B34*C34 =+F27 =+B35*C35 =+D27 =+D34+D35 =+E32+E36