Question

Help S. Rowen, Inc. adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory was 50% complete. At the end of the period, Work in Process Inventory was 60% complete. Rowen, Inc. started the following production report Required: Fill in the missing amounts. (Round your "Cost per Equivalent Unit" answers to 2 decimal places.) ROWEN, INC Process Costing Production Report (Weighted Average Method) UNITS Step 1: Units to be Accounted for Physical Units Beginning Work In Process Started into Production 12,000 Total Units Step 2 Equivalent Units Units Accounted for as follows: Materials Conversion Completed and Transferred 15,000 Ending Work in Process Total Units 18,000 COSTS Cost of Beginning Inventory Deindre Step 3: Cost per Equivalent Unit Materials Conversion Total Cost 54.000 5 42,000 $ 96.000 12 EN nan S חם לרר

Answer 1

There is mistake in question, as to Current period costs for material should be $112,500

	Physical units	Material	Conversion
Units to account for
Work in Process Beginning	6000
Started during the period	12000
Total units to account for	18000
Units Accounted for
Completed and transferred	15000	15000	15000
Work in Process Ending	3000	3000	1800
Total Units Accounted for	18000
Equivalent units		18000	16800
	Material	Conversion	Total
Cost of Beginning Work in Process	$        54,000	$        42,000	$        96,000
Cost added during the period	$      112,500	$      210,000	$      322,500
Total Cost to account for	$     166,500	$     252,000	$     418,500
Equivalent units of Production	18000	16800
Cost per equivalent unit	$            9.25	$          15.00	$          24.25
	Material	Conversion	Total
Cost of Beginning Work in Process	$        54,000	$        42,000	$        96,000
Cost added during the period	$      112,500	$      210,000	$      322,500
Total Cost to be accounted for	$     166,500	$     252,000	$     418,500
	Material	Conversion	Total
Units Completed and transferred out
Units transferred to next department	15000	15000
Cost per equivalent unit	$            9.25	$          15.00
Cost of units transferred out	$     138,750	$     225,000	$     363,750
	Material	Conversion	Total
Ending work in Process Inventory
Equivalent units of Production	3000	1800
Cost per equivalent unit	$            9.25	$          15.00
Cost of Ending work in Process Inventory	$        27,750	$        27,000	$        54,750
Total Costs Accounted for	$     166,500	$     252,000	$     418,500

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