[The following information applies to the questions displayed below.] During Apr

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[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, 62,000 were in process in the production department at the beginning of April and 248,000 were started and completed in April. April's beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of April, 84,000 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.

Compute the number of units transferred to finished goods.

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.

The production department had $817,858 of direct materials and $689,000 of conversion costs charged to it during April. Also, its beginning inventory of $159,422 consists of $126,862 of direct materials cost and $32,560 of conversion costs.

1&2. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department’s output. (Round "Cost per EUP" to 2 decimal places.)

Explanation / Answer

1 Units transferred out = 62000+248000= 310000 2 Equivalent Units of Production - Weighted Average Units % Materials EUP—Materials % Conversion EUP—Conversion Units completed and transferred out 310000 100% 310000 100% 310000 Units in ending inventory 84000 90% 75600 40% 33600 Equivalent units of production 394000 385600 343600 Cost per Equivalent Unit of Production Materials Conversion Costs of beginning inventory 126862 32560 Costs incurred this period 817858 689000 Total costs Costs 944720 Costs 721560 ÷ Equivalent units of production EUP 385600 EUP 343600 Cost per equivalent unit of production (rounded to 2 decimals) 2.45 2.1 Total Costs to Account for: Direct materials - Prior period 126862 Conversion - Prior period 32560 Direct materials - Current period 817858 Conversion - Current period 689000 Total costs to account for: $1,666,280.00 Total costs accounted for $1,666,280.00 Difference due to rounding cost/unit $0.00 Cost Assignment and Reconciliation Cost of units transferred out EUP Cost per EUP Total cost Direct materials 310000 2.45 759500 Conversion 310000 2.1 651000 Total costs transferred out 1410500 Costs of ending work in process EUP Cost per EUP Total cost Direct materials 75600 2.45 185220 Conversion 33600 2.1 70560 Total cost of ending work in process 255780 Total costs accounted for 1666280

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