Mundy Handcratt is a manutacturer ot picture trames for large retailers Every pi

Question

Mundy Handcratt is a manutacturer ot picture trames for large retailers Every picture trame passes througn twn departments the assembly department and tne tnishing department. This problem tocuses on the assembly department The process-costng system st Mundy has a single direct cost category direct mate and a single ndirect cost c tegory convers on costs Direct matena are added when the assembly department rocess 10% c mplete on ers on costs are added evenly during the assembly department's procoss. Mundy usos the weighted-average method of process costing Consider the tollowing data for the assembly department in Apnl 2014 (Click the icon to view the data) 1. Suriarize lolal assernbly deparment cosls for April 2014, arnd assign tolal cosls lo unils compleled (and ransferred oul) annd to urits in eiding work in process 2. What issucs should a manager focus on when revicwing the cquivalent units calculation? Begin hy cakulating the physical units and equrvalent units Data Table Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Physical Units Diret Conversion (Frames) Mateials Costs Work in process, beginning Started during current penod To account for Completed ?nd transferred out during current period Work in process, ending Accounted fo Equivalent units of work done to date $1,665 S900 Work in process, April 1 Started during April 2014 Completed during April 2014 Work in prccess, April Total costs added during Apnl 2014 Degree of completion: direct materials, 100% conversion costs, 40% bDegree or completion. direct malerials, 100%, conversion costs, 30% 190 455 130 $17 640 $11856 Print Done Enter any number in the edit fields and then click Check Answer,

Explanation / Answer

Work in process, ending

Direct materials: 130 x 100% = 130

Conversion costs: 130 x 30% = 39

Equivalent Units Flow of Production Physical Units Direct Materials Conversion Costs Work in process, beginning 95 Started during current period 490 To account for 585 Completed and transferred out during current period 455 455 455 Work in process, ending 130 130 39 Accounted for 585 Equivalent units of work done to date 585 494

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