I couldn't attached the full thing but the picture contains parts A and B. Please refer to part C below. Cost assignment—Weighted average EUPCost per EUPTotal costCompleted and transferred out Direct materials Conversion Total Completed and transferred out Ending work in process Direct materials Conversion Total ending work in process Total costs accounted for **Title: Cost Per Equivalent Unit of Production Calculation****Instructional Content:**### Complete this question by entering your answers in the tabs below.**[Tabs: Required A | Required B | Required C]**#### Tab: Required B**Task:**Compute the cost per equivalent unit for both direct materials and conversion.**Note:** Round "Cost per EUP" to 2 decimal places.| Cost per Equivalent Unit of Production | Direct Materials | Conversion ||----------------------------------------|------------------|------------|| | | || | | ||**Total costs** | | ||**÷ Equivalent units of production** | | ||**Cost per equivalent unit of production|** | |**Instruction:**- Enter the total costs for both direct materials and conversion in the respective columns.- Divide the total costs by the equivalent units of production to calculate the cost per equivalent unit of production.- Round your answers to two decimal places for accuracy.[Navigation Buttons: < Required A | Required C >]---This table guides students in working through the calculations for determining the cost per equivalent unit of production for both direct materials and conversion costs. Students need to input respective values clearly and ensure the calculations are accurate to the nearest two decimals as instructed. **Weighted Average Method of Process Costing - Hi-T Company**Hi-T Company uses the weighted average method of process costing. Information for the company's first production process is provided below. All direct materials are added at the beginning of this process, and conversion costs are added uniformly throughout the process.### Production Data Breakdown**Units:**- **Beginning Work in Process Inventory:** 6,000 units - Direct Materials: 100% complete - Conversion: 80% complete- **Completed and Transferred Out:** 32,000 units- **Ending Work in Process Inventory:** 11,000 units - Direct Materials: 100% complete - Conversion: 40% complete **Costs:**- **Beginning Work in Process:** - Direct Materials: $89,700 - Conversion: $144,520 - Total: $234,220- **Costs Added in This Period:** - Direct Materials: $465,000 - Conversion: $376,000 - Total: $841,000- **Total Costs to Account For:** $1,075,220### Required Computations**a. Compute the equivalent units of production for both direct materials and conversion.****b. Compute the cost per equivalent unit for both direct materials and conversion.****c. Assign costs to the department’s output—specifically, to the units transferred out and to the units in ending work in process inventory.**### Interactive Calculation FieldsBelow are interactive tabs where you can enter your answers:- **Required A:** Compute the equivalent units of production for both direct materials and conversion.- **Required B:** Compute the cost per equivalent unit for both direct materials and conversion.- **Required C:** Assign costs to the department’s output—specifically, to the units transferred out and to the units in ending work in process inventory.**To begin, compute the equivalent units of production for both direct materials and conversion. Use the following table for your calculations:****Equivalent Units of Production: Weighted Average**| Units | Direct Materials | | Conversion | || --------------------------------- | ---------------- | ------------------------- | ------------ | ------------------------- || | Percent Complete | EUP (Equivalent Units of Production) | Percent Complete | EUP (Equivalent Units of Production) || Beginning Work in Process Inventory (WIP) | 100% |

Name: I couldn't attached the full thing but the picture contains parts A an
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Description: I couldn't attached the full thing but the picture contains parts A and B. Please refer to part C below. Cost assignment—Weighted average EUPCost per EUPTotal costCompleted and transferred out Direct materials Conversion Total Completed and

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

Answered: direct materials are added at the…

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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Cost assignment—Weighted average
	EUP	Cost per EUP	Total cost
Completed and transferred out
Direct materials
Conversion
Total Completed and transferred out
Ending work in process
Direct materials
Conversion
Total ending work in process
Total costs accounted for