7d.
Based on the calculations above, what would the misstatement to the COGS and ending inventory amounts be if the alternative percentage completions were used? See original tables below.
REVISED: Equivalent units of production (EUP)- weighted average method (Other Direct Material and Conversion) % Other DM EUP-Other % EUP- Units Costs DM Conversion Conversion Units completed and transferred out 29,100 90% 26,190 90% 26,190 Ending work in process - units 2.280 90% 2,052 75% 1.710 Total units 31,380 28,242 27.900 Cost per equivalent unit of Other DM Conversion production Costs of beginning work in process 8,280.00 131,220.00 Costs incurred this period 359.910.00 1,799,550.00 Total costs Costs 368,190.00 Costs 1,930,770.00 - Equivalent units of production EUP 28,242 EUP 27.900 Cost per equivalent unit of production (show 4 decimal places) 13.0370 69.2032 c) Complete the table below calculating the revised costs accounted for. EUP Total cost Cost per EUP 113.9994 29,100 31.6089 29,100 26,190 26,190 3,317,383.00 919,819.00 341,439.00 1,812,432.00 13.0370 69.2032 6,391.072.00 Revised Total costs accounted for: Cost of units transferred out: Forming Costs Packaging Costs Other Direct materials Conversion Total costs transferred out Costs of ending work in process Forming Costs Packaging Costs Other Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Cost per EUP Total cost 2,280 113.9994 0 31.6089 259,919.00 0 26,752.00 118,337.00 13.0370 2,052 1,710 69.2032 405,008.00 6,796,080.00 EUP- Packaging 29,100 0 29,100 Equivalent units of production (EUP)- weighted average method (Forming and Packaging) physical % Forming EUP- % Units Costs Forming Packaging Units completed and transferred out 29,100 100% 29,100 100% Ending work in process - units 2,280 100% 2.280 0 Total units 31,380 31,380 Cost per equivalent unit of production Forming Costs of beginning work in process from 1b 400,000.00 Costs incurred this period from 1c 3,177,300.00 Total costs Costs 3,577,300.00 Costs Equivalent units of production EUP 31,380 EUP Cost per equivalent unit of production (show 4 decimal places) 113.9994 Packaging 200,000.00 719,820.00 919,820.00 29,100 31.6089 Equivalent units of production (EUP)-weighted average method (Other Direct Material and Conversion) physical % Other DMEUP- Other % EUP Units Costs DM Conversion Conversion Units completed and transferred out 29.100 100% 29,100 100% 29,100 Ending work in process - units 2.280 80% 1,824 65% 1,482 Total units 31,380 30,924 30,582 Cost per equivalent unit of Other Conversion production Costs of beginning work in process from 1b 8,280.00 131,220.00 Costs incurred this period from 1c 359,910.00 1,799,550.00 Total costs Costs 368.190.00 Costs 1,930, 770.00 Equivalent units of production EUP 30,924 EUP 30,582 Cost per equivalent unit of production (show 4 decimal places) 11.9063 63.1342 Total cost 3,317,383.00 919,819.00 346,473.00 1,837,205.00 6,420,880.00 Total costs accounted for Cost of units transferred out: EUP Cost per EUP Forming Costs 29,100 113.9994 Packaging Costs 29,100 31.6089 Other Direct materials 29,100 11.9063 Conversion 29,100 63.1342 Total costs transferred out Costs of ending work in process EUP Cost per EUP Forming Costs 2.280 113.9994 Packaging Costs 0 31.6089 Other Direct materials 1,824 11.9063 Conversion 1,482 63.1342 Total cost of ending work in process Total costs accounted for Total cost 259,919.00 0 21,717.00 93,565.00 375,201.00 6,796,080.00
