hapter 03 Homework (Application) eBook Show Me How Caloulator Equivalent Units o
ID: 2337876 • Letter: H
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hapter 03 Homework (Application) eBook Show Me How Caloulator Equivalent Units of Production and Related Costs The charges to Work in Process-Assembly Department for a period, together withinformation concerning production, are as follows All direct materials are placed in process at the beginning of production Bal., 5,000 units, 40% completed Direct materials, 118,000 units $1.5 Direct labor Factory overhead Bal-2 units, 25% completed To Finished Goods, 115,000 unts 77,000 314,600 122,400 Determine the following a. The number of units in work in process inventory at the end of the period units b. Equivalent units of production for drect materials and conversion. Ir an amount is zero or a biank, enter in Work in Process-Assembly Department Equivalent Units of Production for Direct Materials and Conversion Costs Whole Units Equivalent Unts Direct Materals Equaient Units Conversion Inventory in process, beginning Started and completed Transferred to finished goods Inventory in process, endng Total unts PreviousN ot Recis for direct materials and conversion. If requires, round your answers to the nearest cen Al work saved MacBook AirExplanation / Answer
Answers
Units Reconciliation
Units to account for:
Beginning WIP
5,000
Units started this period
118,000
Total Units to account for
123,000
Total Units accounted for:
Completed & Transferred out
115,000
Ending WIP
8,000
Total Units accounted for
123,000
Answer: No. of units in Work In Process in Inventory at the end of period = 8,000 units [123,000 – 115,000]
Whole Units
Equivalent Units Direct Material
Equivalent Unit Conversion
Inventory in Process, Mar 1
5,000
-
3,000 [5000 x 60%]
Started & Completed in Mar
110,000
110,000
110,000
Transferred to Finished Goods in Mar
115,000
110,000
113,000
Inventory in Process, Mar 31
8,000
8,000
2,000 [8000 x 25%]
Total
123,000
118,000
115,000
COST per EUP
Material
Conversion
Cost incurred this period
$ 177,000.00
$ 437,000.00
Total Costs
Costs
$ 177,000.00
Costs
$ 437,000.00
Equivalent units of production
EUP
118,000
EUP
115,000
Cost per EUP
$ 1.50000
$ 3.80000
Answer:
Direct Materials = $ 1.50 per equivalent units
Conversion cost = $ 3.80 per Equivalent units
Cost of Units started & completed this period:
EUP
Cost per EUP
Total Cost
- Direct Materials
110,000
$ 1.50
$ 165,000.00
- Conversion
110,000
$ 3.80
$ 418,000.00
Total costs started & Completed this period
$ 583,000.00
Answer: $ 583,000
Units Reconciliation
Units to account for:
Beginning WIP
5,000
Units started this period
118,000
Total Units to account for
123,000
Total Units accounted for:
Completed & Transferred out
115,000
Ending WIP
8,000
Total Units accounted for
123,000
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