dont mind the numbers I had in the boxes filled in, they are all possibly wrong.
ID: 2412833 • Letter: D
Question
dont mind the numbers I had in the boxes filled in, they are all possibly wrong.
Brady Products manufactures a silicone paste wax that goes through three processing departments- Cracking, Blending, and Packing. All of the raw materials are introduced at the start of work in the Cracking Department. The Work in Process T-account for the Cracking Department for May follows: Work in Process Cracking Department Inventory, May 1 (37,600 kilograms, Completed and transferred to conversion 4/5 complete) 80,840Blending (?_kilograms) May costs added Raw materials (295,000 kilograms) Conversion costs 501,616 209,412 Inventory, May 31 (65,400 kilograms, conversion 2/3 complete) The May 1 work in process inventory consists of $57,152 in materials cost and $23,688 in conversion cost. The company uses the weighted-average method. Required: 1. Determine the equivalent units of production for May ials Conversion 281,484 Equivalent units of production 267,200 2. Determine the costs per equivalent unit for May. (Round your answers to 2 decimal places.) Materials ersion Cost per equivalent unit 1.24 $ 1.15 3. Determine the cost of the units completed and transferred to Blending during May and the cost of ending work in process inventory. (Round intermediate calculations to 2 decimal places.) Materials Conversion Cost of ending work in process inventory Cost of units completed and transferred outExplanation / Answer
1) Materials Conversion Equivalent Units of production 3,32,600 3,10,800 Working: a. Beginning units 37,600 Units started during period 2,95,000 Total 3,32,600 Ending Units 65,400 Units completed 2,67,200 b. Equivalent units of production (EUP) Materials Conversion Units % of completion EUP-Materials % of completion EUP-Conversion Units completed 2,67,200 100% 2,67,200 100% 2,67,200 Ending Units 65,400 100% 65,400 66.67% 43,600 Total 3,32,600 3,10,800 2) Materials Conversion Cost per equivalent unit $ 1.68 $ 0.75 Working: Materials Conversion Beginnig work in process $ 57,152 $ 23,688 May Costs added $ 5,01,616 $ 2,09,412 Total Costs $ 5,58,768 $ 2,33,100 $ 7,91,868 / Equivalent units of production 3,32,600 3,10,800 Cost per equivalent unit $ 1.68 $ 0.75 3) Materials Conversion Cost of ending work in process inventory $ 73,248 $ 32,700 Costs of units completed and transferred out $ 4,48,896 $ 2,00,400 Working: EUP Cost per EUP Total Cost Cost of ending work in process inventory: Materials 43,600 $ 1.68 $ 73,248 Conversion 43,600 $ 0.75 $ 32,700 Costs of units completed and transferred out: $ 1,05,948 Materials 2,67,200 $ 1.68 $ 4,48,896 Conversion 2,67,200 $ 0.75 $ 2,00,400 $ 6,49,296
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