Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. 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 66,000 352,000 330,000 88,000 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 Required a. Cost per equivalent unit of production: Weighted average method Conversion Total costs completed and transferred out Ending work in process Direct materials Exercise 16-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory LO P1 $ 142,285 42,999 Conversion Total cost of ending work in process Total costs accounted for 918,775 723,261 Direct Materials EUP Percent Complete 65% EUP 80% 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. $ 185,284 1,642,036 $ 1,827,320 Percent Complete Costs EUP Conversion Cost per EUP 35% Cost per EUP 30% Direct Materials Total cost Total cost Costs EUP Conversion
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. 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 66,000 352,000 330,000 88,000 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 Required a. Cost per equivalent unit of production: Weighted average method Conversion Total costs completed and transferred out Ending work in process Direct materials Exercise 16-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory LO P1 $ 142,285 42,999 Conversion Total cost of ending work in process Total costs accounted for 918,775 723,261 Direct Materials EUP Percent Complete 65% EUP 80% 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. $ 185,284 1,642,036 $ 1,827,320 Percent Complete Costs EUP Conversion Cost per EUP 35% Cost per EUP 30% Direct Materials Total cost Total cost Costs EUP Conversion
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A-3
![Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
The first production department of Stone Incorporated reports the following for April.
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
66,000
352,000
330,000
88,000
Total costs
+ Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Required b.
Cost assignment-Weighted average
Exercise 16-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory
LO P1
Completed and transferred out
Direct materials
Conversion
Total costs completed and transferred out
Ending work in process
Direct materials
$ 142,285
42,999
Required a.
Cost per equivalent unit of production: Weighted average method
Conversion
Total cost of ending work in process
Total costs accounted for
918,775
723,261
Direct
Materials
EUP
Percent
Complete
65%
EUP
80%
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.
$ 185,284
1,642,936
$ 1,827, 320
Percent Complete
35%
Costs
EUP
Conversion
Cost per EUP
30%
Cost per EUP
Direct Materials
Total cost
Total cost
Costs
EUP
Conversion](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa67777da-4b55-4cc7-85c7-4cd85410f300%2F1145460e-b02d-4838-aa0f-f4c5ec29a8ad%2F3jqde9u_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
The first production department of Stone Incorporated reports the following for April.
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
66,000
352,000
330,000
88,000
Total costs
+ Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Required b.
Cost assignment-Weighted average
Exercise 16-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and Inventory
LO P1
Completed and transferred out
Direct materials
Conversion
Total costs completed and transferred out
Ending work in process
Direct materials
$ 142,285
42,999
Required a.
Cost per equivalent unit of production: Weighted average method
Conversion
Total cost of ending work in process
Total costs accounted for
918,775
723,261
Direct
Materials
EUP
Percent
Complete
65%
EUP
80%
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.
$ 185,284
1,642,936
$ 1,827, 320
Percent Complete
35%
Costs
EUP
Conversion
Cost per EUP
30%
Cost per EUP
Direct Materials
Total cost
Total cost
Costs
EUP
Conversion
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