Required information [The following information applies to the questions displayed below] The first production department of Stone Incorporated reports the following for April Direct Materials Percent Complete 70% 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 Units 72,000 382,000 360,000 94,000 Required a Cost per equivalent unit of production: FIFO method Equivalent units of production $ 167,920 38,028 1,115,920 777,192 BON $ 205,948 1993,112 $7,099,068 Conversion Percent Complete 30% (a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department. Note: Round "Cost per EUP" to 2 decimal places. (b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end Use the FIFO method. Note: Round "Cost per EUP" to 2 decimal places. 30% Direct Materiale Conversion
Required information [The following information applies to the questions displayed below] The first production department of Stone Incorporated reports the following for April Direct Materials Percent Complete 70% 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 Units 72,000 382,000 360,000 94,000 Required a Cost per equivalent unit of production: FIFO method Equivalent units of production $ 167,920 38,028 1,115,920 777,192 BON $ 205,948 1993,112 $7,099,068 Conversion Percent Complete 30% (a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department. Note: Round "Cost per EUP" to 2 decimal places. (b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end Use the FIFO method. Note: Round "Cost per EUP" to 2 decimal places. 30% Direct Materiale Conversion
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer in text form please (without image)
![Required information
(The following information applies to the questions displayed below]
The first production department of Stone Incorporated reports the following for April
Direct
Materials
Percent
Complete
70%
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
Units
72,000
382,000
360,000
94,000
Required a
Cost per equivalent unit of production: FIFO method
Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
$ 167,920
38,028
1,115,920
777,192
80%
$ 205,948
1,993,112
$ 2,099,060
Conversion
Percent
Complete
30v
(a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department.
Note: Round "Cost per EUP" to 2 decimal places.
(b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at
period-end Use the FIFO method.
Note: Round "Cost per EUP" to 2 decimal places.
30%
Direct Materiale Conversion
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb23282da-a69f-4dfb-ade1-871f80d5949d%2Fe3b43ec0-758b-4fcf-9890-03b6a190c4b4%2Fvc1c4rv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
(The following information applies to the questions displayed below]
The first production department of Stone Incorporated reports the following for April
Direct
Materials
Percent
Complete
70%
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
Units
72,000
382,000
360,000
94,000
Required a
Cost per equivalent unit of production: FIFO method
Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
$ 167,920
38,028
1,115,920
777,192
80%
$ 205,948
1,993,112
$ 2,099,060
Conversion
Percent
Complete
30v
(a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department.
Note: Round "Cost per EUP" to 2 decimal places.
(b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at
period-end Use the FIFO method.
Note: Round "Cost per EUP" to 2 decimal places.
30%
Direct Materiale Conversion
0
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