Question

nyullCU TVITTIGLIVII 4 Use the following information for the Exercises below. [The following information applies to the questions displayed below.) 1 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 Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials 44,000 EUP 4,000 EUP 48,000 EUP Conversion 44,000 EUP 2,400 EUP 46,400 EUP Hint Print Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials $ 40, 350 574,050 $ 614,400 Conversion $ 5,250 342, 750 $ 348,000 References 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 3,500 44,500 44,000 4,000 Exercise 20-12 Weighted average: Completing a process cost summary LO C3 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Answer 1

Total costs to account for: Work in process, Beginning Started in Production Total costs to account for Total costs to account for Difference due to rounding cost/unit $45,600 $916,800 $962,400 $0 Physical Units Units to account for: Work in process, Beginning Started in Production Total units to account for 3,500 44,500 48,000 Total units accounted for: Units completed during October Work in process, Ending Total units accounted for 44,000 4,000 48,000 Equivalent Units Materials Units completed during October Work in process, Ending Total units accounted for Physical Units 44,000 4,000 48,000 100% 100% 44,000 4,000 48,000 100% 60% Conversion Costs 44,000 2,400 46,400 Conversion Costs Material Costs to be accounted for Work in process, Beginning Started in Production Total costs Divided by Total equivalent units Per equivalent unit costs $40,350 $574,050 $614,400 48,000 $12.80 $5,250 $342,750 $348,000 46,400 $7.50 EUP 44,000 44,000 Costs of units transfrred out: Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Work in process, Ending Total costs accounted for Cots per EUP Total cost $12.80 $563,200 $7.50 $330,000 $893,200 Cots per EUP Total cost $12.80 $51,200 $7.50 $18,000 $69,200 EUP 4,000 2,400 $962,400