In its first month's operations, Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units), $594,000 for direct labor, and $1,044,000 for manufacturing overhead. At month- end, 79,200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs.Assuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following:The equivalent units of materials and conversion costs.The cost per equivalent unit of materials and conversion costs.The total cost assigned to the units transferred out.The total cost assigned to the ending inventory.Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for.Round average cost per equivalent unit to two decimal places, if applicable.Round other answers to the nearest whole number, when appropriate.Allred Company Department 1Flow of Units and Equivalent Units CalculationEquivalent Units% Workdone DirectMaterials % WorkDone ConversionCosts Complete/Transferred AnswerAnswerAnswerAnswerAnswerEnding Inventory AnswerAnswerAnswerAnswerAnswerTotal Answera. AnswerAnswera.Product Cost ReportDirectMaterials ConversionCosts Beginning Inventory AnswerAnswerAnswerCurrent AnswerAnswerAnswerTotal Costs to Account For AnswerAnswerAnswer÷ Total Equivalent Units AnswerAnswerAverage cost / Equivalent unit Answerb. Answerb.Complete / Transferred:Direct Materials AnswerConversion costs AnswerCost of Goods Manufactured Answerc.Ending Inventory:Direct Materials AnswerConversion costs AnswerCost of Ending Inventory Answerd.Total Costs Allocated Answere. Equivalent Units and Product Cost Report-Weighted Average MethodIn its first month's operations, Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units), $594,000 for direct labor, and $1,044,000 for manufacturing overhead. At month-end, 79,200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costsAssuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following:a. The equivalent units of materials and conversion costs.b. The cost per equivalent unit of materials and conversion costsc. The total cost assigned to the units transferred outd. The total cost assigned to the ending inventorye. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for.Round average cost per equivalent unit to two decimal places, if applicable.Round other answers to the nearest whole number, when appropriate.CompletartransferredEnding InventoryTotalAllred Company Department 1Flow of Units and Equivalent Units CalculationEquivalent UnitsDirect % WorkMaterials DoneBeginning InventoryCurtereTotal Costs to Account forTotal Equivalent UnitsAverage cost/Equivalent unitComplete/ Transferred:Direct MaterialConversion costsCost of Ending InventoryTotal Costs AllocatedProduct Cost ReportS$SConversion costsCost of Goods Manufactured $Ending Inventory:Direct Material$% WorkdoneSDirectMaterialsS$$b.ConversionCostsConversionCosts Equivalent Units and Product Cost Report-Weighted Average MethodIn its first month's operations, Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units), $594,000 for direct labor, and $1,044,000 for manufacturing overhead. At month-end, 79,200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costsAssuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following:a. The equivalent units of materials and conversion costs.b. The cost per equivalent unit of materials and conversion costsc. The total cost assigned to the units transferred outd. The total cost assigned to the ending inventorye. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for.Round average cost per equivalent unit to two decimal places, if applicable.Round other answers to the nearest whole number, when appropriate.CompletartransferredEnding InventoryTotalAllred Company Department 1Flow of Units and Equivalent Units CalculationEquivalent UnitsDirect % WorkMaterials DoneBeginning InventoryCurtereTotal Costs to Account forTotal Equivalent UnitsAverage cost/Equivalent unitComplete/ Transferred:Direct MaterialConversion costsCost of Ending InventoryTotal Costs AllocatedProduct Cost ReportS$SConversion costsCost of Goods Manufactured $Ending Inventory:Direct Material$% WorkdoneSDirectMaterialsS$$b.ConversionCostsConversionCosts

Name: In its first month's operations, Allred Company's Department 1 incurre
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Description: In its first month's operations, Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units), $594,000 for direct labor, and $1,044,000 for manufacturing overhead. At month- end, 79,200 units had been finished and

Process costing system is that costing system which is used in industries where product needs to go…

Equivalent Units and Product Cost Report-Weighted Average Method in its first month's operations. Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units 1554,000 for direct labor, and $1,044,000 for manufacturing overhead. At month-end, 79,200 units had been finished and transferred out. The remaining units were finished with resport to material but only 25% complete with respect to conversion costs Assuming Aired uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following a. The equivalent units of materials and conversion costs. a. The cost per equivalent unit of materials and conversion costs The total cost assigned to the units transferred out d. The total cost assigned to the ending inventory. e. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for Round average cost per equivalent unit to two decimal places, if applicable. Round other answers to the nearest whole number, when appropriate tal Seng entory Allred Company Department 1 Flow of Units and Equivalent Units Calculation Total Costs Accor Mala Conn Cost of Good Manufact Indegary Mala Con Cost af td ventury work dana Product Cast Report $ Equivalent Units Direct to Work Materials Done Direc Materials Conversion Cas Conversion Cases

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Chapter1: Financial Statements And Business Decisions

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In its first month's operations, Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units), $594,000 for direct labor, and $1,044,000 for manufacturing overhead. At month- end, 79,200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs. Assuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following: The equivalent units of materials and conversion costs. The cost per equivalent unit of materials and conversion costs. The total cost assigned to the units transferred out. The total cost assigned to the ending inventory. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for. Round average cost per equivalent unit to two decimal places, if applicable. Round other answers to the nearest whole number, when appropriate. Allred Company Department 1 Flow of Units and Equivalent Units Calculation Equivalent Units % Work done Direct Materials % Work Done Conversion Costs Complete/Transferred Answer Answer Answer Answer Answer Ending Inventory Answer Answer Answer Answer Answer Total Answer a. Answer Answer a. Product Cost Report Direct Materials Conversion Costs Beginning Inventory Answer Answer Answer Current Answer Answer Answer Total Costs to Account For Answer Answer Answer ÷ Total Equivalent Units Answer Answer Average cost / Equivalent unit Answer b. Answer b. Complete / Transferred: Direct Materials Answer Conversion costs Answer Cost of Goods Manufactured Answer c. Ending Inventory: Direct Materials Answer Conversion costs Answer Cost of Ending Inventory Answer d. Total Costs Allocated Answer e.

Equivalent Units and Product Cost Report-Weighted Average Method
In its first month's operations, Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units), $594,000 for direct labor, and $1,044,000 for manufacturing overhead. At month-end, 79,200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs
Assuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following:
a. The equivalent units of materials and conversion costs.
b. The cost per equivalent unit of materials and conversion costs
c. The total cost assigned to the units transferred out
d. The total cost assigned to the ending inventory
e. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for.
Round average cost per equivalent unit to two decimal places, if applicable.
Round other answers to the nearest whole number, when appropriate.
Completartransferred
Ending Inventory
Total
Allred Company Department 1
Flow of Units and Equivalent Units Calculation
Equivalent Units
Direct % Work
Materials Done
Beginning Inventory
Curtere
Total Costs to Account for
Total Equivalent Units
Average cost/Equivalent unit
Complete/ Transferred:
Direct Material
Conversion costs
Cost of Ending Inventory
Total Costs Allocated
Product Cost Report
S
$
S
Conversion costs
Cost of Goods Manufactured $
Ending Inventory:
Direct Material
$
% Work
done
S
Direct
Materials
S
$
$
b.
Conversion
Costs
Conversion
Costs

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What would be the beginning inventory?

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What is the beginning inventory? You left it blank.


	Direct Materials	Conversion costs
Beginning Inventory	?	?	?
Add: Current costs	3798000	2160000	1638000	($594000+$1044000)
Total costs to account for (A)	3798000	2160000	1638000

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