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2 Required Information Use the following information for the Exercises below. (The following Information applies to...

Question

2 Required Information Use the following information for the Exercises below. (The following Information applies to...

2 Required Information Use the following information for the Exercises below. (The following Information applies to the quest
2 Required Information Use the following information for the Exercises below. (The following Information applies to the questions displayed below Part 2 of 2 During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 72,000 were in process in the production department at the beginning of April and 288,000 were started and completed in April. Aprill's beginning inventory units were 70% complete with respect to matertals and 30 % complete with respect to conversion. At the end of April, 94,000 additional units were In process in the production department and were 80 % complete with respect to materlals and 30 % complete with respect to conversion. 10 points or4007 eBook Exercise 16-9 Weighted average: Costs assigned to output and inventories LO C2 Ask The production department had $1,115,920 of direct materlals and $777192 of conversion costs charged to it during April. Also, Its beginning inventory of $205,948 consists of $167,920 of direct materlals cost and $38,028 of conversion costs 1&2. Using the welghted-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.) Equivalent Units of Production (EUP) Weighted Average Method EUP Materials Units % Materials % Conversion EUP-Conversion Units completed and transferred out Units in ending inventory Equivalent units of production se0,000 100% 300,000 100%) 300.000 85 % 35% Cost per Equivalent Unit of Production Materials Prest anininn inuatne Conversion

Answers

Equivalent units of production (EUP)- weighted average method
Units %Materials EUP-Materials %Conversion EUP-Conversion
Units completed and transferred out 360000 100% 360000 100% 360000
Ending work in process 94000 80% 75200 30% 28200
Total units 454000 435200 388200
Cost per equivalent unit of production Materials Conversion
Cost of beginning work in process 167920 38028
Costs incurred this period 1115920 777192
Total costs Costs 1283840 Costs 815220
÷ Equivalent units of production EUP 435200 EUP 388200
Cost per equivalent unit of production 2.95 2.10
Total costs to account for:
Direct materials-Prior period 167920
Conversion costs-Prior period 38028
Direct materials-Current period 1115920
Conversion costs-Current period 777192
Total costs to account for 2099060
Total costs accounted for 2099060
Difference due to rounding cost/unit 0
Cost Assignment and Reconciliation
Cost of units transferred out EUP Cost per EUP Total cost
Direct materials 360000 2.95 1062000
Conversion 360000 2.10 756000
Total cost transferred out 1818000
Cost of ending work in Process EUP Cost per EUP Total cost
Direct materials 75200 2.95 221840
Conversion 28200 2.10 59220
Total Cost of ending work in Process 281060
Total cost accounted for 2099060


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