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the following information for the Exercises below. (Algo) following information applies to the questions displayed below.) following data reports on the July production activities of the Molding department at Ash Company. ginning work in process Direct materials Conversion lded this period $ 24,150 2,900 $ 27,050

the following information for the Exercises below. (Algo) following information applies to the questions displayed below.) following data reports on the July production activities of the Molding department at Ash Company. ginning work in process Direct materials Conversion lded this period $ 24,150 2,900 $ 27,050

FINANCIAL ACCOUNTING
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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Itranscript Required information Use the following information for the Exercises below. (Algo) [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 $ 24,150 2,900 Units 403,200 213,440 2,500 36,000 35,500 3,000 $ 27,050 616,640 $ 643,690 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% 60% Exercise 16-14 (Algo) Weighted average: Production cost report LO P2
Transcribed Image Text:Itranscript Required information Use the following information for the Exercises below. (Algo) [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 $ 24,150 2,900 Units 403,200 213,440 2,500 36,000 35,500 3,000 $ 27,050 616,640 $ 643,690 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% 60% Exercise 16-14 (Algo) Weighted average: Production cost report LO P2
Prepare the Molding department's production cost report using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Unit Reconciliation Units to account for Total units to account for Units accounted for i Total units accounted for Equivalent Units of Production (EUP) Equivalent units of production Cost per EUP Equivalent units of production Cost per EUP Total costs -Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion Total completed and transferred out Ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Units EUP EUP Units % Complete % Complete Direct Materials Costs EUP Direct Materials Cost per EUP Cost per EUP $ S 0.00 0.00 Direct Materials EUP EUP Direct Materials Total cost Total cost 0 % Complete Conversion % Complete Costs EUP Conversion EUP EUP Conversion Conversion 0 4
Transcribed Image Text:Prepare the Molding department's production cost report using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Unit Reconciliation Units to account for Total units to account for Units accounted for i Total units accounted for Equivalent Units of Production (EUP) Equivalent units of production Cost per EUP Equivalent units of production Cost per EUP Total costs -Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion Total completed and transferred out Ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Units EUP EUP Units % Complete % Complete Direct Materials Costs EUP Direct Materials Cost per EUP Cost per EUP $ S 0.00 0.00 Direct Materials EUP EUP Direct Materials Total cost Total cost 0 % Complete Conversion % Complete Costs EUP Conversion EUP EUP Conversion Conversion 0 4
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