1. Asaya Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Asaya uses the weighted average method of process costing. The following information for June 2017 is available. (Click the icon to view the information.) Read the requirements? Requirement 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs. (Enter a "0" for any zero balances.) Equivalent Units Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs Work in process, beginning inventory (June 1) Transferred in during June To account for Completed and transferred out during June Work in process, ending inventory (June 30) Accounted for Equivalent units work done to date Requirement 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. Begin by summarizing the total costs to account for. (Enter a "Ofor any zero balances.) Total Transferred-In Direct Production Costs Costs Materials Conversion Costs Total costs to account for Calculate the cost per equivalent unit for transferred-in costs, direct materials and conversion costs. (Round your answers to the nearest cent.) Transferred-In Direct Conversion Costs Materials Costs Divide by (4) Cost per equivalent unit Requirement 3. Assign costs to units completed (and transferred out) and to units in ending work in process. (Enter a "0" for any zero balances. Round your answers to the nearest whole dollar.) Conversion Total Production Costs Transferred-In Coats Direct Materials Cost Assignment of costs Completed and transferred out Work in process, ending Total costs to account for 1: Data Table Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs 60 5 60,000 $ 0 $ 24,000 100% 0% 50% Work in process, beginning inventory (June 1) Degree of completion, beginning work in process Transferred-in during June Completed and transferred out during June Work in process, ending inventory (June 30) Degree of completion, ending work in process Total costs added during June 100% 130,500 $ 0% 36,250 $ 75% 76,125 2. Requirements 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. 3. Assign costs to units completed (and transferred out) and to units in ending work in process (1) O O Completed and transferred out Costs added in current period O Costs incurred to date O Equivalent units of work done to date Work in process, beginning o Work in process, ending O Completed and transferred out O Costs added in current period O Costs incurred to date O Equivalent units of work done to date Work in process, beginning o Work in process, ending (3) O O Completed and transferred out O Costs added in current period O Costs incurred to date O Equivalent units of work done to date Work in process, beginning o Work in process, ending O Completed and transferred out O Costs added in current period O Costs incurred to date O Equivalent units of work done to date Work in process, beginning o Work in process, ending
