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Connect Login XCourses-Blackboard Lea 2 https://newconnect.mheducation.com/flow/connect.html 0/12 Toial points awarded ek 2 Assignment Chapter 20 3 Required information The following information applies to the questions displayed below ompleted a number of units of a product and During April, the production department of a process manufacturing system c transferred them to finished goods. Of these transferred units, 60,000 were in process in the production d the beginning of Apriland 240,000 were started and completed in April. April's beginning inventory units were complete with respect to materials and 40% complete units were inprocess in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. 2.4 with respect to conversion. At the end of April, 82,000 additional Scored elook The production department had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167066 consists of $118,472 of direct materials cost and $48,594 of conversion costs Hint 182 Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department's output. (Round "Cost per EUP" to 2 decimal places.)

Explanation / Answer

Units completed from beginning work in process 60,000 Units completed from current period            2,40,000 Total Units completed            3,00,000 1) Equivalent units of production Units % Material EUP-Material % Conversion EUP-Conversion Units completed 3,00,000 100%           3,00,000 100%                 3,00,000 Ending Work in process      82,000 80%               65,600 30%                     24,600 Equivalent units of production 3,82,000           3,65,600                 3,24,600 2) Cost per equialent units: Materials Conversion Beginning Work in process $       1,18,472 $                 48,594 Units completed $       8,50,368 $             6,49,296 Total Costs $       9,68,840 $             6,97,890 / Equivalent units of production           3,65,600                 3,24,600 Cost per equivalent unit of production 9rounded to 2 Decimal places) $               2.65 $                     2.15 3) Total costs to account for: Beginning work in process $         1,67,066 Costs incurred during the current period: Materials $         8,50,368 Conversions $         6,49,296 Total Costs to account for $       16,66,730 Total Costs accounted for $       16,66,730 Difference due to rounding cost/unit 0 4) Costs assignment and Reconcilation: EUP Cost per EUP Total Cost Costs of units transferred out: Direct Material      3,00,000 $               2.65 $        7,95,000 Conversion      3,00,000 $               2.15 $        6,45,000 Total Costs transferred out $ 14,40,000 Costs of Ending Work In proccess: Direct Material         65,600 $               2.65 $        1,73,840 Conversion         24,600 $               2.15 $           52,890 Total costs of ending work in process $ 2,26,730 Total Costs accounted for $ 16,66,730

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