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b Required information Bison Co, a manufacturing firm, utilizes a process manufacturing system. During April, the first production department of Bison Co completed its work
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Required information Bison Co, a manufacturing firm, utilizes a process manufacturing system. During April, the first production department of Bison Co completed its work on 315,000 units of a product and transferred them to the next department of these transferred units, 63,000 were in process in the production department at the beginning of April and 252,000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April, 85,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion The production department of Hodge Co. had $825,945 of direct materials and $707.955 of conversion costs charged to it during April. Also, its April beginning inventory of $155,675 consists of $131,565 of direct materials cost and $24.120 of conversion costs 1. Compute the direct materials cost per equivalent unit for April (Round "Cost per EUP" to 2 decimal places.) 2. Compute the conversion cost per equivalent unit for April. (Round "Cost per EUP" to 2 decimal places.) 3. Using the weighted average method, assign April's costs to the department's output-specifically, its units transferred to the next department and its ending work in process inventory (Round "Cost per EUP" to 2 decimal places.) Required 1 and 2 Equivalent Units of Production (EUP). Weighted Average Method Units * Materials EUP-Materials Conversion EUP-Conversion Units completed and transferred out 315,000 100% 315.000 100% 315,000 Unitsin ending inventory 85,000 BOX 68,000 30% 25,500 Equivalent units of production 400,000 383,000 340.500 Cost per Equivalent Unit of Production Materials Conversion Costs of units transferred out $ 315,000 $ 315,500 Costs of ending inventory Total costs Costs Costs Required information Costs of ending inventory Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs to Account for Costs EUP Costs EUP 0 $ 0.00 Total costs to account for Total costs accounted for Difference due to rounding costuri $ 0.00 EUP Cost per EUP Total cost Required 3 Cost Assignment and Reconciliation Cost of units transferred out Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total de ander EUP Total cost Cost per EUP $ 0.00 $ 0.00 0.00 0.00 Step by Step Solution
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