33. 20.00 points value Exercise 16-12 Weighted average: Completing a process cos

Question

33. 20.00 points value Exercise 16-12 Weighted average: Completing a process cost summary LO C3 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. Ending work in process inventory is 60% complete with respect to conversion. Direct Equivalent Units of Production 44,000 ts transferred rkis46,940 Units transferred out Units of ending work in process 44,000 4,900 2,940 Equivalent units of production 48,900 Direct Costs per EUP Costs of beginning work in process Costs incurred this period Total costs $ 29,350 3,360 567,230 250,116 S 596,580 S253,476 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out44,000 Units in ending work in process 4,400 44,500 4,900 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Explanation / Answer

CALCULATION OF EQUIVALENT UNITS

__________________________________________________________________________________________

Purticulars           input   Particualrs          Output      Matrial %     Material EU    Conversion %  Conversion EU_____

Opening WIP      4,400   Units transferred 44,000       100%             44,000               100%            44,000

Units started      44,500  Closing WIP          4,900        100%              4,900                 60%              2,940

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