Question

15 Part 3 of 3 Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 810,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 205,000 units that are 90% complete with respect to conversion. Beginning work in process inventory had $263,900 of direct materials and $124,313 of conversion cost. The direct material cost added in November is $1766,100, and the conversion cost added is $2,361,937. Beginning work in process consisted of 67,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 67,000 were from beginning work in process and 743,000 units were started and completed during the period. 3 points eBook 3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Print EUP Cost per EUP Total cost Cost of units transferred out: Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total costs of ending work in process Total costs accounted for EUP Cost per EUP Total cost ME Graw < Prev 15 of 17 Next >

Answer 1

Calculation of Equivalent Onit Direct Material conversion x Unit Unit y 100 1@ 810000 810000 Units transferred out ( 67000+ 743000 - 810000 20500 go 184500 ( 2052OXP)) 994 50 1,015 , QUO Ending work in procus 100 inventory Equivalent unit Cost per Equivalent Unit Direct Materials Cost of beginning work conversion or $ 124313 $ 263900 in process during the 1766,100 2,36 1937 cost added during the math Total cost $ 2486,250 $ 20.30,000 + 수 994 500 1015000 Equivalentonit Cost per Equivalent Onit $ 2.5 & 2

FUP CostperEOP Totallest & cost of Onit transferred out Direct Materials 810000 1620000 2 2.5 2095000 Conversion 810 MB $ 3695000 Total coste transferred oot cost of ending work in procus Fop Costper EOP Total cost 20 SOU 2 40000 Direct Materials Conversion 184500 2.5 461,250 Total costs of ending Work in proces $871,250 $ 4,516,250 Total cost accounted for ( 3645007 871950)