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Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March. Units
Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March.
Units | Costs | ||||||||
Beginning work in process inventory | 3,000 | Beginning work in process inventory | |||||||
Started | 30,000 | Direct materials | $ | 3,660 | |||||
Ending work in process inventory | 6,000 | Conversion | 10,368 | ||||||
$ | 14,028 | ||||||||
Status of ending work in process inventory | Direct materials added | 194,670 | |||||||
MaterialsPercent complete | 100 | % | Direct labor added | 184,620 | |||||
ConversionPercent complete | 20 | % | Overhead applied (140% of direct labor) | 258,468 | |||||
Total costs to account for | $ | 651,786 | |||||||
Ending work in process inventory | $ | 55,356 | |||||||
Prepare a process cost summary report for this process using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)
Check my work 4 Total Costs to Account for: 2 points Total costs to account for: Total costs accounted for Difference due to rounding cost/unit Unit Reconciliation: Units account for: 0 eBook Hint Total units to account for Total units accounted for: Print DO References Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP- Materials % Conversion EUP-Conversion Total units Cost per Equivalent Unit of Production Materials Conversion Costs EUP Costs EUP Total costs + Equivalent units production Cost per equivalent unit of production (rounded to 2 decimals) Total Coate Accounted for 0 0 units accounted Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP- Materials % Conversion EUP-Conversion 2 points Total units Cost per Equivalent Unit of Production Materials Conversion eBook Casts Costs be Hint EUP EUP 0 0 Print Cost per EUP Total cost D References Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs Accounted for: Cost of units transferred out: EUP Direct materials Conversion Total costs transferred out Costs of ending work in process EUP Direct materials Conversion Total cost of ending work in process Total costs accounted for Total cost Cost per EUP 0.00 $ 0.00 $
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