Question

Required information [The following information applies to the questions displayed below.) During April, the first production department of a process manufacturing system completed its work on 330,000 units of a product and transferred them to the next department of these transferred units, 66,000 were in process in the production department at the beginning of April and 264,000 were started and completed in April. April's beginning inventory units were 65% complete with respect to materials and 35% complete with respect to conversion. At the end of April, 88,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion Compute the number of equivalent units with respect to both materials used and conversion used in the first production department for April using the weighted average method. Equivalent Units of Production - Weighted Average Units % Materials EUP-Materials % Conversion EUP Conversion Total

Answer 1

Answer 1 and 2:

Unit reconciliation:

Unit Reconciliation: Units to account for: Beginning work in process Started during the month Total units to account for Total units accounted for: Units transferred to Finished goods Ending work in process Total units accounted for 66,000 352,000 418,000 330,000 88,000 418,000

Equivalent units of production (EUP) - weighted average method Units Units transferred to Finished goods Ending work in process Total Units Cost per equivalent unit of production Beginning work in process Cost incurred during the month Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) %Material EUP - Material % Conversion EUP - Conversion 330,000 100% 330,000 100% 330,000 88,000 80% 70,400 30% 26,400 400,400 356,400 Material Conversion $142,285 $42,999 $918,775 $723,261 Costs $1,061,060 Costs $766,260 EUP 400,400 EUP 356,400 $2.65 $2.15

Total Costs to account for: Beginning Work in process Cost added during the month Total costs to account for: Total costs accounted for Difference due to rounding cost/unit $185,284.00 $1,642,036.00 $1,827,320.00 $1,827,320.00 $0

Answer 3:

EUP Cost per EUP Total cost 330,000 $2.65 $874,500.00 330,000 $2.15 $709,500.00 $1,584,000.00 Cost Assignment and Reconciliation Cost of units transferred out: Direct material Conversion Total cost transferred out Cost of ending work in process Direct material Conversion Total cost of ending work in process Total costs accounted for 70,400 26,400 $2.65 $2.15 $186,560.00 $56,760.00 $243,320.00 $1,827,320.00

Above excels (Answer 1, 2 and 3) with 'show formula' is as below:

B C E F =D22+F22 =D23+F23 =B3+B2 =E36 0 66000 =B11-B9 =B15 330000 88000 =B13+B14 A 1 Total Costs to account for: 2 Beginning Work in process 3 Cost added during the month 4 Total costs to account for: 5 Total costs accounted for 6 Difference due to rounding cost/unit 7 Unit Reconciliation: Units to account for: 9 Beginning work in process 10 Started during the month 11 Total units to account for 12 Total units accounted for: 13 Units transferred to Finished goods 14 Ending work in process 15 Total units accounted for 16 Equivalent units of production (EUP) - weighted average method 17 18 Units transferred to Finished goods 19 Ending work in process 20 Total Units 21 Cost per equivalent unit of production 22 Beginning work in process 23 Cost incurred during the month 24 Total costs 25 : Equivalent units of production 26 Cost per equivalent unit of production (rounded to 2 decimals) 27 Cost Assignment and Reconciliation 28 Cost of units transferred out: 29 Direct material 30 Conversion 31 Total cost transferred out 32 Cost of ending work in process 33 Direct material 34 Conversion 35 Total cost of ending work in process 36 Total costs accounted for Units =B13 =B14 Material 1 0.8 % Conversion 1 0.3 EUP - Material =B18 =B19-C19 =D19+D18 Material 142285 918775 =D23+D22 =D20 =D24/025 EUP - Conversion =B18 =E19'B19 =F19+F18 Conversion 42999 723261 =F23+F22 =F20 =F24/F25 Costs Costs EUP EUP EUP =B18 =F18 Cost per EUP =D26 =F26 Total cost =C29'B29 =C30'B30 =D29+D30 =D19 =F19 =D26 =F26 =C33 B33 =C34'B34 =D33+D34 =E35+E31