The following partially completed process cost summary describes the July produc
ID: 2340172 • Letter: T
Question
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.
fill out charts completly.
Equivalent Units of Production Direct Materials Conversion Units transferred out 36,500 EUP 36,500 EUP Units of ending work in process 4,000 EUP 2,400 EUP Equivalent units of production 40,500 EUP 38,900 EUP Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP to 2 decimal places) Costs Charged to Production Total costs to account for Total costs accounted for Difference due to rounding cost/unit Unit Reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)- Weighted Average Method EUP. Materials) % Conversion EUP Conversion Units | % Materials Equivalent units of production Cost per EUP Materials Conversion Total costs -Equivalent units of production Cost per equivalent unit of productior Cost Assignment and Reconciliation Costs EUP Costs EUPExplanation / Answer
Prepare cost summary :
Cost charged to production Beginning work in process 40050 Cost added into production 651000 Total cost account for 691050 Units reconciliation Units to account for Beginning work in process unit 3500 Unit started 37000 Total units to account for 40500 Total units accounted for Units transferred out 36500 Ending work in process 4000 Total units accounted for 40500 Equivalent units of production Units % material EUP-material % conversion EUP-conversion Units transferred out 36500 100% 36500 100% 36500 Ending work in process 4000 100% 4000 60% 2400 Total equivalent unit of production 40500 40500 38900 Cost per EUP material Conversion Beginning work in process 35850 4200 Cost added 421800 229200 Total cost 457650 233400 Equivalent unit of production 40500 38900 Cost per EUP 11.30 6 Cost assignment and reconciliation Cost transferred out EUP Cost per EUP Total cost Direct material 36500 11.30 412450 Conversion 36500 6 219000 Total transferred out 631450 Cost of ending work in process EUP Cost per EUP Total cost Direct material 4000 11.30 45200 Conversion 2400 6 14400 Total ending work in process 59600 Total cost accounted for 691050Related Questions
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