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 Conversion Units Beginning work in process inventory 78,000 Percent Complete 75% Percent Complete 25% Units started this period 412,000 Completed and transferred out 390,000 Ending work in process inventory 100,000 80% 30% The production department had the cost information below. Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 231,275 36,840 $ 268,115 Total costs to account for 1,296,225 929,160 2,225,385 $ 2,493,500 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. Required a. Cost per equivalent unit of production: Weighted average method Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. 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 Costs EUP Direct Materials EUP Cost per EUP Total cost Conversion Costs EUP 0 0 EUP Cost per EUP Total cost $ 0.00 $ 0.00 $ 0.00 0.00
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 Conversion Units Beginning work in process inventory 78,000 Percent Complete 75% Percent Complete 25% Units started this period 412,000 Completed and transferred out 390,000 Ending work in process inventory 100,000 80% 30% The production department had the cost information below. Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 231,275 36,840 $ 268,115 Total costs to account for 1,296,225 929,160 2,225,385 $ 2,493,500 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. Required a. Cost per equivalent unit of production: Weighted average method Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. 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 Costs EUP Direct Materials EUP Cost per EUP Total cost Conversion Costs EUP 0 0 EUP Cost per EUP Total cost $ 0.00 $ 0.00 $ 0.00 0.00
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
![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
Conversion
Units
Beginning work in process inventory
78,000
Percent
Complete
75%
Percent Complete
25%
Units started this period
412,000
Completed and transferred out
390,000
Ending work in process inventory
100,000
80%
30%
The production department had the cost information below.
Beginning work in process inventory
Direct materials
Conversion
Costs added this period
Direct materials
Conversion
$ 231,275
36,840
$ 268,115
Total costs to account for
1,296,225
929,160
2,225,385
$ 2,493,500
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc35d990a-41f3-4637-a377-d215340ffa3a%2Fdfc1aeba-7367-488a-b5cf-8a3f2e7a5fe4%2Frtn6w5m_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
Conversion
Units
Beginning work in process inventory
78,000
Percent
Complete
75%
Percent Complete
25%
Units started this period
412,000
Completed and transferred out
390,000
Ending work in process inventory
100,000
80%
30%
The production department had the cost information below.
Beginning work in process inventory
Direct materials
Conversion
Costs added this period
Direct materials
Conversion
$ 231,275
36,840
$ 268,115
Total costs to account for
1,296,225
929,160
2,225,385
$ 2,493,500
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.
Transcribed Image Text:Required a.
Cost per equivalent unit of production: Weighted average method
Total costs
+ Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Required b.
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
Costs
EUP
Direct Materials
EUP
Cost per EUP
Total cost
Conversion
Costs
EUP
0
0
EUP
Cost per EUP
Total cost
$
0.00 $
0.00
$
0.00
0.00
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