equivalent units and product cost report weighted average method the following data (and annotations) are for Joyner companys processing department work in process account for the month of June 2019
The following data (and annotations) are for Joyner Company's processing department work-in-process account for the month of June 2019: $17.430 47,652 Beginning inventory (700 units, 40% complete) Direct materials Conversion costs Current period Direct materials (5,000 units) Direct labor Manufacturing overhead applied 210,000 357,600 226,800 Support Joyner uses the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in- process is composed of 900 units, 70% complete. Compute the following: a. Equivalent units for materials and conversion. b. Cost per equivalent unit for materials and conversion. C. Total cost assigned to the units transferred out. % Work Done? Equivalent Units Direct % Work Materials Done? Where do the units come from? Where do the units go? Beginning Inventory Complete/Transferred Started Ending Inventory Total Total Product Cost Report Direct Materials Conversion Costs Where do the costs come from? Beginning Inventory Current Total Costs to Account For + Total Equivalent Units Average cost / Equivalent unit Where do the costs go? Support Total Joyner uses the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in- process is composed of 900 units, 70% complete. Compute the following: a. Equivalent units for materials and conversion. b. Cost per equivalent unit for materials and conversion. C. Total cost assigned to the units transferred out. Equivalent Units % Work Direct % Work Where do the units come from? Where do the units go? Done? Materials Done? Beginning Inventory Complete/Transferred Started Ending Inventory Total Product Cost Report Direct Conversion Where do the costs come from? Materials Costs Beginning Inventory Current Total Costs to Account For + Total Equivalent Units Average cost/Equivalent unit Where do the costs go? Complete / Transferred: Direct Materials Conversion costs Costs of Goods Manufactured Ending Inventory: Direct Materials Conversion costs Cost of Ending Inventory Total Costs Allocated Check