Required information The following information applies to the questions displaye

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Required information The following information applies to the questions displayed below.] 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 Direct Conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Materials 33,000 EUP 3, 500 EUP 36, 500 EUP 33,000 EUP 2,100 EUP 35,100 EUP Direct Materials Conversion $ 28,450 3,180 Costs per EUP Costs of beginning work in process Costs incurred this period Total costs 358,450 182,850 $ 386, 900 186,030 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,000 33,500 33,000 3,500 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Explanation / Answer

Total costs to account for: Costs of beginning work in process 31630 Costs incurred this period 541300 Total costs to account for 572930 Total costs accounted for 572930 Difference due to rounding cost/unit 0 Unit reconciliation: Units to account for: Beginning work in process inventory 3000 Units started this period 33500 Total units to account for 36500 Total units accounted for: Units completed and transferred out 33000 Ending work in process 3500 Total units accounted for 36500 Equivalent units of production (EUP)- weighted average method Units %Materials EUP-Materials %Conversion EUP-Conversion Units completed and transferred out 33000 100% 33000 100% 33000 Ending work in process 3500 100% 3500 60% 2100 Total units 36500 36500 35100 Cost per equivalent unit of production Materials Conversion Cost of beginning work in process 28450 3180 Costs incurred this period 358450 182850 Total costs 386900 186030 ÷ Equivalent units of production 36500 35100 Cost per equivalent unit of production 10.6 5.30 Total cost accounted for: Cost of units transferred out EUP Cost per EUP Total cost Direct materials 33000 10.6 349800 Convesrion 33000 5.3 174900 Total cost transferred out 524700 EUP Cost per EUP Total cost Cost of ending work in Process Direct materials 3500 10.6 37100 Convesrion 2100 5.3 11130 Total Cost of ending work in Process 48230 Total cost accounted for 572930

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