During April, the production department of a process manufacturing system comple
ID: 2339116 • Letter: D
Question
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, 76,000 were in process in the production department at the beginning of April and 304,000 were started and completed in April. Aprifs beginning inventory units were 65% complete with respect to materials and 35% complete with respect to conversion. At the end of April, 98,000 additional units were in process in the production department and were 85% complete with respect to materials and 35% complete with respect to conversion. The production department had S1,300,088 of direct materials and S913,154 of conversion cost charged to it during April. Also, its beginning inventory of $247,066 consists of $182,472 of direct materials cost and $64,594 of conversion costs 182. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign Aprils costs to the department's output. (Round "Cost per EUP" to 2 decimal places.) Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP-Materials | % Conversion EUP-Conversion Equivalent units of production Cost per Equivalent Unit of Production Materials Conversion Total costs Costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs to Account for: EUP EUP Total costs to account for Total costs accounted for Difference due to rounding cost/unit Cost Assignment and Reconciliation Cost of units transferred out EUP Cost per EUP Total cost Direct materials Total costs transferred out Costs of ending work in process EUP Cost per EUP Total cost Direct materials Total cost of ending work in process Total costs accounted forExplanation / Answer
Answer
EUP - Weighted Average Method
Units
% Material
EUP Materials
% Conversion
EUP - Conversion
Units TRANSFERRED
380,000
100%
380,000
100%
380,000
Units of ENDING WIP
98,000
85%
83,300
35%
34,300
Equivalent Units of Production
463,300
414,300
COST per EUP
Material
Conversion
Cost of Beginning WIP
$ 182,472.00
$ 64,594.00
Cost incurred during the period
$ 1,300,088.00
$ 913,154.00
Total Costs
Costs
$ 1,482,560.00
Costs
$ 977,748.00
Equivalent units of production
EUP
463,300
EUP
414,300
Cost per EUP
$ 3.20
$ 2.36
Total Cost to account for:
Cost of beginning WIP
$ 247,066.00
Costs incurred this period
$ 2,213,242.00
Total Cost to account for
$ 2,460,308.00
Total costs accounted for
$ 2,460,308.00
Difference due to rounding cost/unit
$ -
TOTAL COST ACCOUNTED FOR
Cost of Units Transferred Out
EUP
Cost per EUP
Total Cost
- Direct Materials
380,000
$ 3.20
$ 1,216,000.00
- Conversion
380,000
$ 2.36
$ 896,800.00
Total Cost transferred Out
$ 2,112,800.00
Costs of Ending WIP:
EUP
Cost per EUP
Total Cost
- Direct Materials
83,300
$ 3.20
$ 266,560.00
- Conversion
34,300
$ 2.36
$ 80,948.00
Total cost of ending WIP
$ 347,508.00
Total costs accounted for
$ 2,460,308.00
---Working
Units Reconciliation
Units to account for:
Beginning WIP
76,000
Units started this period
402,000
Total Units to account for
478,000
Total Units accounted for:
Completed & Transferred out
380,000
Ending WIP
98,000
Total Units accounted for
478,000
EUP - Weighted Average Method
Units
% Material
EUP Materials
% Conversion
EUP - Conversion
Units TRANSFERRED
380,000
100%
380,000
100%
380,000
Units of ENDING WIP
98,000
85%
83,300
35%
34,300
Equivalent Units of Production
463,300
414,300
COST per EUP
Material
Conversion
Cost of Beginning WIP
$ 182,472.00
$ 64,594.00
Cost incurred during the period
$ 1,300,088.00
$ 913,154.00
Total Costs
Costs
$ 1,482,560.00
Costs
$ 977,748.00
Equivalent units of production
EUP
463,300
EUP
414,300
Cost per EUP
$ 3.20
$ 2.36
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