1 2345 B C D E F G Hi-T Company uses the weighted average method of process costing. Information for the company's first production process follows. All direct materials are added at the beginning of this process, and conversion costs are added uniformly throughout the process. Direct Materials Percent Conversion Percent 6 Units Complete Complete 7 Beginning work in process inventory 2,000 100% 80% 8 Completed and transferred out 23,000 100% 100% 9 Ending work in process inventory 7,000 100% 40% 10 11 Beginning work in process 12 Direct materials 13 Conversion $45,000 56,320 $101,320 14 Costs added this period 15 Direct materials 16 Conversion 17 Total costs to account for 375,000 341,000 716,000 $817,320 18 19 Required: 20 a. Compute the equivalent units of production for both direct materials and conversion. 21 22 (Use cells A5 to D17 from the given information to complete this question.) 23 24 25 26 27 Completed and transferred out 28 Ending work in process 29 Total Conversion Percent EUP Complete EUP Equivalent Units of Production: Weighted average Direct Materials Units Percent Complete 26 27 A B C Percent D E F G Percent Units Complete EUP Complete EUP Completed and transferred out 28 Ending work in process 29 Total 30 31 b. Compute the cost per equivalent unit for both direct materials and conversion. 32 (Round "Cost per EUP" to 2 decimal places.) 33 34 (Use cells A5 to D17 from the given information to complete this question.) 35 36 Cost per Equivalent Unit of Production Direct Materials 37 38 39 Total costs 40 + Equivalent units of production 41 Cost per equivalent unit of production 42 Conversion 43 C. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. 44 (Round "Cost per EUP" to 2 decimal places.) 45 46 (Use cells A5 to D17 from the given information to complete this question.) 47 48 Cost assignment-Weighted average 49 50 Completed and transferred out Conversion 51 Direct materials 52 53 Total completed and transferred out 54 Ending work in process EUP Cost per EUP Total cost 55 Direct materials 56 Conversion 57 Total ending work in process 58 Total costs accounted for $0.00 $0.00