Use the following Information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory The production department had the cost Information below. Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Costs of beginning inventory Total costs Units 84,000 442,000 420,000 106,000 - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. Cost assignment-Weighted average Required a. Cost per equivalent unit of production: Weighted average method Costs incurred this period Completed and transferred out Direct materials Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory LO P1 Conversion Totall costs completed and transferred out Ending work in process Direct materials $ 339,208 26,430 Conversion Total cost of ending work in process Total costs accounted for 1,452,832 1,035,300 Direct Materials EUP Percent Complete 80% EUP 80% a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. b. Using the weighted average method, assign April's costs to the department's output-specifically. Its units transferred to the nex department and its ending work in process inventory. Note: Round "Cost per EUP" to 2 decimal places. $365,638 2,488,132 $ 2,853,770 Percent Complete Costs EUP Conversion Cost per EUP Cost per EUP $ $ 28% Direct Materials 0.00 0.00 30% $ Total cost Total cost 0 0.00 0.00 Costs EUP Conversion
Use the following Information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory The production department had the cost Information below. Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Costs of beginning inventory Total costs Units 84,000 442,000 420,000 106,000 - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. Cost assignment-Weighted average Required a. Cost per equivalent unit of production: Weighted average method Costs incurred this period Completed and transferred out Direct materials Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory LO P1 Conversion Totall costs completed and transferred out Ending work in process Direct materials $ 339,208 26,430 Conversion Total cost of ending work in process Total costs accounted for 1,452,832 1,035,300 Direct Materials EUP Percent Complete 80% EUP 80% a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. b. Using the weighted average method, assign April's costs to the department's output-specifically. Its units transferred to the nex department and its ending work in process inventory. Note: Round "Cost per EUP" to 2 decimal places. $365,638 2,488,132 $ 2,853,770 Percent Complete Costs EUP Conversion Cost per EUP Cost per EUP $ $ 28% Direct Materials 0.00 0.00 30% $ Total cost Total cost 0 0.00 0.00 Costs EUP Conversion
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 15E: Costs per equivalent unit and production costs Based on the data in Exercise 17-14, determine the...
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![Use the following Information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
The first production department of Stone Incorporated reports the following for April.
Beginning work in process inventory
Units started this period
Completed and transferred out
Ending work in process inventory
The production department had the cost Information below.
Beginning work in process inventory
Direct materials
Conversion
Costs added this period
Direct materials
Conversion
Total costs to account for
Costs of beginning inventory
Total costs
Units
84,000
442,000
420,000
106,000
- Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Required b.
Cost assignment-Weighted average
Required a.
Cost per equivalent unit of production: Weighted average method
Costs incurred this period
Completed and transferred out
Direct materials
Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory
LO P1
Conversion
Totall costs completed and transferred out
Ending work in process
Direct materials
$ 339,208
26,430
Conversion
Total cost of ending work in process
Total costs accounted for
1,452,832
1,035,300
Direct
Materials
EUP
Percent
Complete
80%
EUP
80%
a. Compute cost per equivalent unit for both direct materials and conversion.
Note: Round "Cost per EUP" to 2 decimal places.
b. Using the weighted average method, assign April's costs to the department's output-specifically. Its units transferred to the nex
department and its ending work in process inventory.
Note: Round "Cost per EUP" to 2 decimal places.
$365,638
2,488,132
$ 2,853,770
Percent Complete
Costs
EUP
Conversion
Cost per EUP
Cost per EUP
$
$
28%
Direct Materials
0.00
0.00
30%
$
Total cost
Total cost
0
0.00
0.00
Costs
EUP
Conversion](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F938f9c94-9427-41e8-9664-38fc73452a63%2F5a30b8cf-50e9-4fdf-99d4-355286d5d350%2F0thn7od_processed.png&w=3840&q=75)
Transcribed Image Text:Use the following Information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
The first production department of Stone Incorporated reports the following for April.
Beginning work in process inventory
Units started this period
Completed and transferred out
Ending work in process inventory
The production department had the cost Information below.
Beginning work in process inventory
Direct materials
Conversion
Costs added this period
Direct materials
Conversion
Total costs to account for
Costs of beginning inventory
Total costs
Units
84,000
442,000
420,000
106,000
- Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Required b.
Cost assignment-Weighted average
Required a.
Cost per equivalent unit of production: Weighted average method
Costs incurred this period
Completed and transferred out
Direct materials
Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory
LO P1
Conversion
Totall costs completed and transferred out
Ending work in process
Direct materials
$ 339,208
26,430
Conversion
Total cost of ending work in process
Total costs accounted for
1,452,832
1,035,300
Direct
Materials
EUP
Percent
Complete
80%
EUP
80%
a. Compute cost per equivalent unit for both direct materials and conversion.
Note: Round "Cost per EUP" to 2 decimal places.
b. Using the weighted average method, assign April's costs to the department's output-specifically. Its units transferred to the nex
department and its ending work in process inventory.
Note: Round "Cost per EUP" to 2 decimal places.
$365,638
2,488,132
$ 2,853,770
Percent Complete
Costs
EUP
Conversion
Cost per EUP
Cost per EUP
$
$
28%
Direct Materials
0.00
0.00
30%
$
Total cost
Total cost
0
0.00
0.00
Costs
EUP
Conversion
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