Question

Required Information 2.5 The following information applies to the questions displayed below.] points The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Materials Conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production 42,000 EUP 42,000 EUP 3,500 EUP 2,100 EUP 45,500 EUP 44,100 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials Conversion $ 32,950 $ 4,260 531,250 308,850 $ 564.200 $313, 110 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 3,000 42,500 42.000 3.500 Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.)

Answer 1

37,210 840,100 877,310 877,310 Costs Charged to Production Costs of beginning goods in process=32950+4260 Costs incurred this period=531250+308850 Total costs to account for Total costs accounted for * Difference due to rounding cost/unit Unit reconciliation Units to account for Beginning goods in process Units started this period Total units to account for Total units accounted for Completed and transferred out Ending goods in process Total units accounted for Equivalent units of production (EUP)- weighted average method 3,000 42,500 45,500 42,000 3,500 45,500 100% Units % Materials 42,000 3.500 100% 45,500 Units completed and transferred out Units of ending goods in process Equivalent units of production Cost per EUP Cost of beginning goods in process Costs incurred this period Total costs Equivalent units of production Cost per equivalent unit of production EUP-Materials % Conversion EUP- Conversion 42.000 100% 42,000 3.500 60% 2.100 45,5001 44,100 Materials Conversion 32950 4260 531,250 308,850 564,200 Costs 313,110 45.500 EUP 44.100 12.40 7.10 EUP EUP Cost per EUP Total cost 42,000 12.40 520,800 42,000 7.10 298, 200 520 000 819,000 Cost Assignment and Reconciliation Costs transferred out Direct materials Direct Conversion Total transferred out Costs of ending goods in process Direct materials Direct Conversion Total ending goods in process Total costs accounted for EUP Cost per EUP Total cost 3,500 12.40 43,400 2,100 7.10 14.910 58,310 877,310