2 Required information Use the following information for the Exercises below. Th

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2 Required information Use the following information for the Exercises below. The following information applies to the questions displayed below] ints 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. eBook pirect Conversi Equivalent Units of Production Units transferred out Unita of ending wozk in PrOCESS Equivalent unita of production Materials 36, 000 EUP 3,500 EUP 36,000 EUP 2,100 EUP 39, 500 EUP 38,100 EUP Print Direct Costa per EUP Costs or beginning work in process Costs incurred this perLod Total costs Materials Conversion 29,950 3,540 412, 450 References 221,250 442,400 224,790 Units in beginning vork in process (a1l completed during July) Unics atarted chia period Unics completed and trannterred out Unics in ending work in process 3, 000 6,500 36, 000 ,500 Exercise 16-12 Weighted average: Completing a process cost summary LO C3

Explanation / Answer

Cost charged to production: Beginning WIP cost 33490 Cost incurred this period 633700 Total cost to account for 667190 Total cost accounted for 667190 Difference due to rounding off 0 Units reconciliation: Units to account for: beginning WIP units 3000 Current units started 36500 Total units to account for 39500 Units accounted for: Units completed and transferred out 36000 Ending WIP units 3500 Total units accounted for 39500 Equivalent units of Production: Units % Material EUP-M % conversion EUP-C Units completed and transferred 36000 100% 36000 100% 36000 Ending WIP units 3500 100% 3500 60% 2100 Equivalent units of production 39500 39500 38100 Cost per Eup Material Conversion Beginning WIP cost 29950 3540 Current cost incurred 412450 221250 Total cost 442400 224790 Equivalent units of production 39500 38100 Cost per EUP 11.2 5.9 Cost assignment and reconciliation: Cost transferred out Eup Cost per Eup Total cost Material 36000 11.2 403200 conversion 36000 5.9 212400 Total transferred out 615600 Cost of Ending WIP Material 3500 11.2 39200 Conversion 2100 5.9 12390 Total Ending Wip 51590 Total cost accounted for 667190

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