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 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 The production department had the cost information below. Conversion Costs added this period Direct materials Conversion Total costs to account for Units 73,000 387,000 365,000 95,000 $ 172,070 17,500 Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. 1,165, 180 779,000 Percent Complete 75% Required a. Cost per equivalent unit of production: Weighted average method 85% $ 189,570 a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 1,944,180 $ 2,133,750 Conversion Costs EUP b. Using the weighted average method, assign April's costs to the department's output-specifically, its units transferred to the next department and its ending work in process inventory. Note: Round "Cost per EUP" to 2 decimal places. 25% 35% Direct Materials Costs EUP 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 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 The production department had the cost information below. Conversion Costs added this period Direct materials Conversion Total costs to account for Units 73,000 387,000 365,000 95,000 $ 172,070 17,500 Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. 1,165, 180 779,000 Percent Complete 75% Required a. Cost per equivalent unit of production: Weighted average method 85% $ 189,570 a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 1,944,180 $ 2,133,750 Conversion Costs EUP b. Using the weighted average method, assign April's costs to the department's output-specifically, its units transferred to the next department and its ending work in process inventory. Note: Round "Cost per EUP" to 2 decimal places. 25% 35% Direct Materials Costs EUP Conversion
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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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.
Direct
Materials
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
73,000
387,000
365,000
95,000
$ 172,070
17,500
Total costs
+ Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Required b.
1,165, 180
779,000
Required a.
Cost per equivalent unit of production: Weighted average method
Percent
Complete
75%
85%
$ 189,570
Percent Complete
1,944,180
$ 2,133,750
Conversion
Costs
EUP
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 next
department and its ending work in process inventory.
Note: Round "Cost per EUP" to 2 decimal places.
25%
35%
Direct Materials
Costs
EUP
Conversion](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F341730a3-5e00-4345-bbba-fd7509aae855%2Fc2fd62a9-0f8d-420b-938b-0d9024c30d34%2F7h44d7s_processed.png&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
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
73,000
387,000
365,000
95,000
$ 172,070
17,500
Total costs
+ Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Required b.
1,165, 180
779,000
Required a.
Cost per equivalent unit of production: Weighted average method
Percent
Complete
75%
85%
$ 189,570
Percent Complete
1,944,180
$ 2,133,750
Conversion
Costs
EUP
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 next
department and its ending work in process inventory.
Note: Round "Cost per EUP" to 2 decimal places.
25%
35%
Direct Materials
Costs
EUP
Conversion
Transcribed Image Text:Cost assignment-Weighted average
Completed and transferred out
Direct materials
Conversion
Total costs completed and transferred out
Ending work in process
Direct materials
Conversion
Total cost of ending work in process
Total costs accounted for
EUP
EUP
Cost per EUP
Cost per EUP
Total cost
Total cost
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