Question

Required information 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, 74,000 were in process in the production department at the beginning of April and 296,000 were started and completed in April. April's beginning inventory units were 80 % complete with respect to materials and 20% complete with respect to conversion. At the end of April, 96,000 additional units were in process in the production department and were 90 % complete with respect to materials and 40 % complete with respect to conversion. 1. Compute the number of units transferred to finished goods. 2. Compute the number of equivalent units with respect to both materials used and conversion used in the production department for April using the weighted-average method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of units transferred to finished goods. Units transferred out

Answer 1

1)	Units Transferred out
	Units in the beginning Work in Process	74000
	Units started and completed	296000
	Total units transferred out	370000
	Equivalent Units of Production-Weighted Average
		Units	% materials	EUP-Materials	% Conversion	EUP-Conversion
2)	Units completed and transferred out
	Units in the ending Work in process inventory	370000	100%	370000	100%	370000
	Equivalent units of production	96000	90%	86400	40%	38400
	Equivalent units of production	466000		456400		408400
3)	Equivalent Units of Production-Weighted Average
		Units	% materials	EUP-Materials	% Conversion	EUP-Conversion
	Units completed and transferred out	370000	100%	370000	100%	370000
	Units in the ending Work in process inventory	96000	90%	86400	40%	38400
	Equivalent units of production	466000		456400		408400
	Cost per Equivalent units of production
				Materials		Conversion
	Cost of beginning Inventory			$      2,00,420.00		$          18,532.00
	Cost incurred this period			$    11,91,600.00		$       8,18,688.00
	Total cost=(A)		Costs	$    13,92,020.00	Costs	$       8,37,220.00
	Equivalent units of production=(B)		EUP	456400	EUP	408400
	Cost per Equivalent units=(A)/(B)			$                    3.05		$                     2.05
	Total Costs to account for:
	Direct Material-Current Period	$ 11,91,600.00
	Direct Materials-Beginning Inventory	$    2,00,420.00
	Conversion Cost-Current Period	$    8,18,688.00
	Conversion cost-Beginning Inventory	$       18,532.00
	Total Costs to account for:	$ 22,29,240.00
	Total cost accounted for	$ 22,29,240.00
	Difference	0
	Cost Assignment & Reconciliation
	Cost of units transferred out	EUP	Cost per EUP	Total cost
	Direct Material	370000	$               3.05	$    11,28,500.00
	Conversion	370000	$               2.05	$      7,58,500.00
	Total cost transferred out				$ 18,87,000.00
	Cost of ending Work in Process
	Direct Material	86400	$               3.05	$      2,63,520.00
	Conversion	38400	$               2.05	$          78,720.00
					$    3,42,240.00
	Total cost to account for				$ 22,29,240.00