Azule Co. manufactures in two sequential processes, cutting and binding. The two departments report the information below for a recent month Cutting Binding Beginning work in process Transferred in from cutting dept. Direct materials $2,150 2,190 3,650 $ 1,045 2,850 Conversion Costs added during March $12,740 7,596 19,775 20,530 45,000 Direct materials Conversion 17,400 Transferred in from cutting dept. Transferred to finished goods Determine the ending balances in the Work in Process Inventory accounts of each department. Cutting Binding Ending work in process Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 720,000 units of product to finished goods. At the end of November, the work in process inventory consists of 184,000 units that are 60% complete with respect to conversion. Beginning inventory had $528,840 of direct materials and $207,600 of conversion cost. The direct material cost added in November is $3,539,160, and the conversion cost added is $3,944,400. Beginning work in process consisted of 75,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 75,000 were from beginning work in process and 645,000 units were started and completed during the period. uired: etermine the equivalent units of production with respect to direct materials and conversion Equivalent Units of Production (EUP)- Weighted Average Method Units % Materials EUP- Materials % Conversion EUP-Conversion al units Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 720,000 units of product to finished goods. At the end of November, the work in process inventory consists of 184,000 units that are 60% complete with respect to conversion. Beginning inventory had $528,840 of direct materials and $207,600 of conversion cost. The direct material cost added in November is $3,539,160, and the conversion cost added is $3,944,400. Beginning work in process consisted of 75,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 75,000 were from beginning work in process and 645,000 units were started and completed during the period. 2. Compute both the direct material cost and the conversion cost per equivalent unit Cost per equivalent unit of production Materials Conversion Total costs Costs Costs Equivalent units of production EUP EUP Cost per equivalent unit of production (rounded to 2 decimals)
