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Required information [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 32,000 EUP 32,000 EUP 2500 EUP1,500 EUP 34,500 EUP 33,500 EUP Direct Costs of beginning work in prooess Costs incurred this period Total costs 18,550 $ 2,280 357 500188 670 s 376,050 190,950 Units in beginning work in prooess (all completed durng Juity) Units started this period Units completed and transferred out Units in ending work in prooess 2,000 32,500 32,000 2,500

Explanation / Answer

Costs charged to production cost of beginning work in process 20,830 costs incurred this period 546,170 total costs to account for 567,000 Total costs accounted for 567,000 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 32,500 total units to account for 34,500 total units accounted for units completed & tranferred out 32,000 units in ending work in process 2,500 total units accounted for 34,500 Equivalent units of production -(EUP)-Weighted average Method units %materials EUP-Mat % CC Eup-CC units completed & tranferred out 32,000 100% 32,000 100% 32,000 units in ending work in process 2,500 100% 2,500 60% 1,500 Equivalent units of producton 34,500 33,500 Cost per EUP Materials CC Cost of beginning work in process 18,550 2,280 cost incurred this period 357,500 188,670 total costs Costs 376,050 Costs 190,950 Equivalent units of producton EUP 34,500 EUP 33,500 Cost per Equivalent unit pf production 10.9 5.7 cost Assignment and Reconciliation Costs transferred out EUP cost pu total cost Direct materials 32,000 10.9 348800 conversion 32,000 5.7 182400 total transferred out 531200 Cost of ending work in process Direct materials 2,500 10.9 27250 conversion 1,500 5.7 8550 total ending work in process 35800 total costs accounted for 567000

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