Question

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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.

Equivalent Units of Production	Direct Materials			Conversion
Units transferred out		35,000	EUP		35,000	EUP
Units of ending work in process		2,500	EUP		1,500	EUP
Equivalent units of production		37,500	EUP		36,500	EUP

Costs per EUP	Direct Materials				Conversion
Costs of beginning work in process		$	18,450			$	2,280
Costs incurred this period			394,050				205,770
Total costs		$	412,500			$	208,050

Units in beginning work in process (all completed during July)	2,000
Units started this period	35,500
Units completed and transferred out	35,000
Units in ending work in process	2,500

repare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Costs Charged to Production Total costs to account for $0.00 Total costs accounted for *Difference due to rounding cost/unit $0.00 Unit Reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)- Weighted Average Method Units % Materials EUP- Materials % Conversion EUP- Conversion Equivalent units of production Cost per EUP Materials Conversion Total costs Costs Costs ÷ Equivalent units of production EUP EUP Cost per equivalent unit of production 0 0 Cost Assignment and Reconciliation Costs transferred out EUP Cost per EUP Total cost Direct materials Conversion Total transferred out Costs of ending work in process EUP Cost per EUP Total cost Direct materials $0.00 Conversion $0.00 Total ending work in process Total costs accounted for

Answer 1

Total costs to account for
Beginning Material			$      18,450.00
Beginning Conversion			$         2,280.00
Current Material			$    394,050.00
Current Conversion			$    205,770.00
Total costs to account for			$    620,550.00
Total costs accounted for			$    620,550.00

Units Reconciliation
Units to account for
Units in beginning WIP				2000
Units started this period				35500
Total units to account for				37500
Total units accounted for				35000
Units completed and transferred out				2500
Units in ending WIP				37500

Equivalent Units of Production (EUP) - Weighted Average Method
				Units	% Mat.	EUP- Mat.	% Conv.	EUP- Conv.
Units completed and transferred out				35000	100%	35000	100%	35000
Units in ending inventory				2500	100%	2500	60%	1500
Equivalent units of production						37500		36500

Cost per Equivalent Unit of Production
					Materials		Conversion
Beginning costs					$      18,450.00		$     2,280.00
During the month costs					$    394,050.00		$ 205,770.00
Total cost				Costs	$    412,500.00	Costs	$ 208,050.00
÷	Equivalent units of production			EUP	37500	EUP	36500
Cost per equivalent unit of production					$              11.00		$             5.70

Cost Assignment and Reconciliation
Cost of units transferred out				EUP	Cost/ EUP	Total Cost
Direct Materials				35000	$   11.00	$    385,000.00
Conversion				35000	$      5.70	$    199,500.00
Total costs of units transferred out					(a)	$    584,500.00
Cost of ending work in process				EUP	Cost/ EUP	Total Cost
Direct Materials				2500	$   11.00	$      27,500.00
Conversion				1500	$      5.70	$         8,550.00
Total cost of ending work in process					(b)	$      36,050.00
Total costs accounted for					(a+b)	$    620,550.00