Help Save Required information Use the following information for the Exercises b

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Help Save Required information Use the following information for the Exercises below. [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. Units transferred out Units of ending work in process Equivalent units of production 42,500 EUP 42,500 EUP 2,500 EUP 45,000 EUP 1,500 EUP 44,000 EUP Dire Costs of beginning work in process Costs incurred this period Total costs ersi 20,7002,880 541,800 313,920 $562,500 316,800 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 2,000 43,000 42,500 2,500 Prev 4015 ll Next >

Explanation / Answer

Costs charged to production cost of beginning work in process 23,580 costs incurred this period 855,720 total costs to account for 879,300 Total costs accounted for 879,300 Difference due to rounding cost/unit 0 Unit Reconcilation Units to account for units in beginning work in process 2,000 units started this period 43,000 total units to account for 45,000 total units accounted for units completed & tranferred out 42,500 units in ending work in process 2,500 total units accounted for 45,000 Equivalent units of production -(EUP)-Weighted average Method units %materials EUP-Mat % CC Eup-CC units completed & tranferred out 42,500 100% 42,500 100% 42,500 units in ending work in process 2,500 100% 2,500 60% 1,500 Equivalent units of producton 45,000 44,000 Cost per EUP Materials CC Cost of beginning work in process 20,700 2,880 cost incurred this period 541,800 313,920 total costs Costs 562,500 Costs 316,800 Equivalent units of producton EUP 45,000 EUP 44,000 Cost per Equivalent unit pf production 12.5 7.2 cost Assignment and Reconciliation Costs transferred out EUP cost pu total cost Direct materials 42,500 12.5 531250 conversion 42,500 7.2 306000 total transferred out 837250 Cost of ending work in process Direct materials 2,500 12.5 31250 conversion 1,500 7.2 10800 total ending work in process 42050 total costs accounted for 879300

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