Question

Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 73,000 were in process in the production department at the beginning of April and 292.000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April. 95.000 additional units were in process in the production department and were 85% complete with respect to materials and 35% complete with respect to conversion

Answer 1

Solution 1 & 2:

Ashad Company Production cost Report
Particulars	Units	% Materials	Material	% Conversion	Conversion
Equivalent units of production - Weighted Average method
Unit completed & Transferred out	365000	100%	365000	100%	365000
Ending Work In Proces	95000	85%	80750	35%	33250
Equivalent units of production	460000		445750		398250
Cost per equivalent unit of production			Material		Conversion
Beginning Work In Process			$172,070.00		$17,500.00
Cost added during the period			$1,165,180.00		$779,000.00
Total costs		Cost	$1,337,250.00	Cost	$796,500.00
Equivalent units of production		EUP	445750	EUP	398250
Cost per equivalent unit			$3.00		$2.00
Cost Assignment and Reconciliation:
Cost of unit transferred out	EUP	Cost per EUP	Total Cost
Direct materials	365000	$3.00	$1,095,000.00
Conversion	365000	$2.00	$730,000.00
Total costs transferred out			$1,825,000.00
Cost of ending work in process
Direct materials	80750	$3.00	$242,250.00
Conversion	33250	$2.00	$66,500.00
Total Cost of ending work in process			$308,750.00
Total costs accounted for			$2,133,750.00
Cost charged to production:
Beginning Work In Process	$189,570.00
Cost Added during period	$1,944,180.00
Total costs to account for	$2,133,750.00
Total costs accounted for	$2,133,750.00
Difference due to rounding cost per unit	$0.00
Units reconciliation:
Units to accounts for:
Beginning WIP	73000
Units started	387000
Total units to account for	460000
Total units accounted for:
Units completed and transferred out	365000
Units in ending WIP	95000
Total units accounted for	460000