! 4 Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. Exercise 16-11A FIFO: Costs assigned to output LO C4, P4 The production department had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of $118,472 of direct materials cost and $48,594 of conversion costs. Using the FIFO method, prepare the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department's output. (Round "Cost per EUP" to 2 decimal places.) Equivalent Units of Production (EUP)- FIFO Method Units of 4 % Materials 100% % Conversion 100% EUP Materials 300,000 X 65,600 Units completed and transferred out Units in ending work in process X 300,000 X 82,000 EUP Conversion 3,000,000 24,600 80% 30% 382.000 Equivalent units of production Cost per Equivalent Unit of Production Costs incurred this period Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs to Account for: Materials $ 850,368 $ 850/368 Conversion $ 649,296 S 649,296 Costs Costs EUP 0 EUP 0 0 $ 118,472.00 Direct materials - prior period Conversion costs-prior period 48,594.00 850 368.00 Direct materials - current period Conversion costs - current period 649.296.00 Total costs to account for Total costs accounted for $ 1.666.730.00 2011,932.00 $ (345,202.00) - Difference due to rounding cost/unit Assignment of Costs to Output of Department Cost of 60.000 units from beginning inventory Beginning inventory IS 118,472 X Cost per EUP Total cost EUP 2.65 X 5173,840.00 X Materials to complete 300,000 $ Conversion to complete 300,000 $ 2.15 X 52 890.00 CI roy Next (345,202.00) Dilelence due to rounding cost/unit Assignment of Costs to Output of Department Cost of 60.000 units from beginning inventory Beginning inventory 118,472 % IS Cost per EUP EUP Total cost 300,000 X $ 2.65 X S173,840.00 X Materials to complete Conversion to complete 300.000 X $ 2.15% 52,890.00 X Total costs to complete 226,730.00 Total cost of 60.000 units in beginning inventory $ 345,202.00 Cost of units started and completed this period Total cost Cost per EUP EUP 300,000 X $ 2.65 Direct materials $795,000.00 Conversion costs 300,000 X $ 2.15 645,000.00 Total cost of 240,000 units started and completed Total cost of 300,000 units transferred out 5 1.440,000.00 IS 1,785,202.00 Costs of units in ending inventory Cost per EUP Total cost Direct materials EUP 2.65 65,600$ S173,840.00 Conversion costs 24,600 IS 2.15 52,890.00 Total cost of 82,000 units in ending inventory Total costs assigned 226.730.00 $ 2.011.932.00