Required Information[The following information applies to the questions displayed below.]The following dats reports on the July production activities of the Molding department at Ash Company.Beginning work in processDirect materialsConversionCosts added this periodDirect materialsConversionTotal costs to account forBeginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryUnit ReconciliationUnits to account forTotal units to account forUnits accounted forTotal units accounted forEquivalent Unite of Production (EUP)Equivalent units of productionCost per EUPTotal costs+ Equivalent units of productionCost per equivalent unit of productionCost AssignmentCompleted and transferred outDirect materialsConversionTotal completed and transferred outEnding work in processDirect materialsConversionTotal ending work in processTotal costs accounted forUnitaEUP$ 34,0503,788EUPUnitsPrepare the Molding department's production cost report using the weighted average method.Note: Round "Cost per EUP" to 2 decimal places.367,200198,0803,50034,00033,5004,000DirectMaterialsPercentComplete100%100%$ 37,838557,288$ 595,118% CompleteCastsEUPDirect MaterialeCost per EUPCost per EUPConversionPercentComplete20%60%EUPDirect MaterialeTotal costTotal costConversion% CompleteCostsEUPEUPConversion

In the process costing system, the equivalent number of units are obtained by multiplying the number…

Required Information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 34,050 3,780 Units 367,200 198,080 3,500 34,000 33,500 4,000 $ 37,838 557,288 $ 595,118 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 28% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places.

Required Information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 34,050 3,780 Units 367,200 198,080 3,500 34,000 33,500 4,000 $ 37,838 557,288 $ 595,118 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 28% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places.

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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