Question

Asaya ​Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Asaya uses the​ weighted-average method of process costing. The following information for June 2017 is available.

i X Х Data Table A 1 B с D E Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs 100 $ 110,000 $ 이 0 $ 40,000 100% 0% 60% 135 2 Work in process, beginning inventory (June 1) Degree of completion, beginning work in 3 process 4 Transferred-in during June 5 Completed and transferred out during June 6 Work in process, ending inventory (June 30) Degree of completion, ending work in process 8 Total costs added during June 165 70 7 100% 0% 70% $ 165,000 $ 37,125 $ 84,150 Print Done

I need help with requirement 3. All the correct answers are already shown, but this part confused me and I don't know how to get these numbers myself. Can you please show all your work and focus only on requirement 3. The other information is for reference.

Answer 1

Solution:

Assignment of Costs Total production costs $ 3,25,933 Transferred in costs $ 1,93,085 Direct Materials $ 37,125 Conversion costs $ 95,723 Particulars Completed and transferred (Working Notes) Work in Process, Ending (Working Notes) Total costs to account for $ 1,10,342, $ 81,915 $0 $ 28,427 $ 4,36,275 $ 2,75,000 ($ 3,25,933+$ 1,10,342) ($ 1,93,085+$ 81,915) $ 37,125 ($ 37,125+$ 0) $ 1,24,150 ($ 95,725+$ 28,427)

Working Notes: Computation of Total cost of Units Completed and transferred Particulars EU (A) (Equivalent units) Cost per EU (B) Total cost in $ C = (A) * (B) Cost of units Completed and Transferred Transferred in costs 165 units $ 1170.21 Direct materials 165 units $ 225 $1,93,085 (165 units* $ 1170.21) $ 37,125 (165 units * $225) $ 95,723 (165 units* $ 580.14) $3,25,933 ($ 1,93,085+$ 37,125,+$ 95,723) Conversion 165 units $ 580.14 Total costs completed and transferred out

Computation of Total Cost of Ending Work in Process Particulars EU (A) (Equivalent units) Cost per EU (B) Total cost in $ C = (A) * (B) Cost of Ending Work in Process Transferred in costs 70 units $ 1170.21 $81,915 (70 units* $ 1170.21) Direct materials O units $ 225 0 Conversion 49 units $ 580.14 (0 units* $ 225) $ 28,427 (49 units* $ 580.14) $ 1,10,342 ($ 81,915+ $ 0+$ 28,427) Total Cost of Ending Work in Process

Thankyou, I hope I resolved the Requirement 3.