Please do not give solution in image format thanku 7. Moanalua Company produces large quantities of a standardized product. The following information isavailable for the first production department for May. Prepare a production cost report for this processusing the weighted average method. Note: Round "Cost per EUP" to 2 decimal places.DirectMaterials% Complete100%Beginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryConversionCosts added this periodDirect materialsBeginning work in process inventory costDirect materialsConversionTotal costs to account forUnit reconciliation:Units to account for:Units accounted for:Equivalent Units of ProductionCost per EUPEnding work in processEquivalent units of production (EUP) - weighted average method% CompleteTotal costs accounted forUnitsProduction Cost ReportUnits4,40014,00014,6003,800Cost per equivalent unit of production (rounded to 2 decimals)Cost AssignmentCompleted and transferred outEUPEUP$230,400$280,592$ 3,303$6,438Direct MaterialsCost per EUPCost per EUP100%EUPDirect MaterialsTotal costTotal cost$ 9,741$510,992$520,733Conversion% Complete40%Conversion% Complete25%EUPConversion

The equivalent units are calculated on the basis of percentage of the work completed during the…

7. Moanalua Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning work in process inventory cost Direct materials Conversion Costs added this period Direct materials Units 4,400 14,000 14,600 3,800 Conversion Total costs to account for $ 3,303 $6,438 $230,400 $280,592 Direct Materials % Complete 100% 100% $ 9,741 $510,992 $520,733 Conversion % Complete 40% 25%

7. Moanalua Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning work in process inventory cost Direct materials Conversion Costs added this period Direct materials Units 4,400 14,000 14,600 3,800 Conversion Total costs to account for $ 3,303 $6,438 $230,400 $280,592 Direct Materials % Complete 100% 100% $ 9,741 $510,992 $520,733 Conversion % Complete 40% 25%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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