Question

ignments Saved Required information [The following information applies to the questions displayed below.) 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 Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials Conversion 38,000 EUP 38,000 EUP 2,500 EUP 1,500 EUP 40,500 EUP 39,500 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials $ 19,350 450,450 $ 469,800 Conversion $ 2,520 246,330 $248,850 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 2,000 38,500 38,000 2,500

Answer 1

B E F A с D 1 Total costs to account for 2 Costs of beginning work in process $ 21,870 3 Costs incurred this period $ 696,780 4 Total costs to account for $ 718,650 5 Total costs accounted for $ 718,650 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 38,500 11 Total units to account for 40,500 12 Total units accounted for 13 Units Completed and transferred out 38,000 14 Ending work in process - units 2,500 15 Total units accounted for 40,500 16 Equivalent Units Of Production (EUP)-Weighted Average Method 17 Units % Materials EUP-Materials % Conversion Eup Conversion 18 Units Completed and transferred Out 38,000 100% 38,000 100% 38,000 19 Ending work in process - units 2,500 100% 2,500 60% 1,500 20 Equivalent units of production 100,000 40,500 39,500 21 22 Cost per EUP Materials Conversion 23 Cost of beginning work in process $ 19,350 $ 2,520 24 Cost incurred this period $ 450,450 $ 246,330 25 Total costs costs $ 469,800 costs $ 248,850 26 Equivalent units of production EUP 40500 EUP 39500 27 Cost per Equivalent Unit of Production 11.60 $ 6.30 28 Total costs accounted for ull

EUP Cost per EUP Total cost 38,000 $ 11.60 $ 440,800 38,000 $ 6.30 $ 239,400 32 $ 680,200 29 Costs transferred out 30 Direct materials 31 Conversion 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 2,500 $ 11.60 $ 29,000 1,500 $ 6.30 $ 9,450 $ $ 38,450 718,650

A D F B с E 1 Total costs to account for 2 Costs of beginning work in process =19350+2520 3 Costs incurred this period =450450+246330 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 2000 10 Units started this period 38500 11 Total units to account for =+B9+B10 12 Total units accounted for 13 Units Completed and transferred out 38000 14 Ending work in process - units 2500 15 Total units accounted for =+B13+B14 16 Equivalent Units Of Production (EUP)- Weighted Average Method Units % Materials EUP-Materials % Conversion Eup Conversion 18 Units Completed and transferred Out 38000 1 =+B18*C18 1 =+B18*E18 19 Ending work in process - units 2500 1 =+B19*C19 =+F19/B19 =+F20-F18 20 Equivalent units of production 100000 =+D18+D19 39500 21 22 Cost per EUP Materials Conversion 23 Cost of beginning work in process 19350 2520 24 Cost incurred this period 450450 246330 25 Total costs costs =+D23+D24 costs =+F23+F24 26 Equivalent units of production EUP =+D20 EUP =+F20 27 Cost per Equivalent Unit of Production =+D25/D26 =+F25/F26 28 Total costs accounted for 17

EUP =+D18 =+F18 Cost per EUP Total cost =+D27 =+B30*C30 =+F27 =+B31*C31 =+D30+D31 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 =+D19 Cost per EUP Total cost =+D27 =+B34*C34 =+F27 =+B35*C35 =+F19 =+D34+D35 =+E32+E36