Required information[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 inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryUnits67,000357,000335,00089,000Completed and transferred outEnding work in processTotalDirectMaterialsPercentUnits335,00089,000424.000Complete Percent Complete70%30%85%Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted averagemethod.ConversionEquivalent units of production: Weighted average methodDirect MaterialsPercentComplete85%35%EUPPercentCompleteConversionEUP

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Description: Required information[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 inventoryUnits started this periodCompleted and

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Required information [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 Units 67,000 357,000 Completed and transferred out Ending work in process Total 335,000 89,000 Direct Materials Units Percent Complete 70% 335,000 89,000 424,000 85% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Conversion Equivalent units of production: Weighted average method Direct Materials Percent Complete Percent Complete 30% 85% 35% EUP Percent Complete Conversion EUP

Required information [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 Units 67,000 357,000 Completed and transferred out Ending work in process Total 335,000 89,000 Direct Materials Units Percent Complete 70% 335,000 89,000 424,000 85% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Conversion Equivalent units of production: Weighted average method Direct Materials Percent Complete Percent Complete 30% 85% 35% EUP Percent Complete Conversion EUP

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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Required information [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 Beginning work in process inventory Direct materials Units The production department had the cost information below. Conversion Costs added this period Direct materials Conversion Total costs to account for 60,000 322,000 300,000 82,000 $ 118,472 48,594 850,368 649,296 Direct Materials Conversion Percent Complete 60% 80% $ 167,066 1,499,664 $1,666,730 a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 40% 30%
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