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need some help The first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 700 Conversion Percent Complete 300 Beginning
need some help
The first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 700 Conversion Percent Complete 300 Beginning work in process Inventory Units started this period Completed and transferred out Ending work in process inventory Unito 67,000 357.000 335,000 89.000 850 350 The production department had the cost information below. $ 148,455 37.299 $ 185, 754 Beginning work in process inventory Direct materiale Conversion Costa added this period Direct materials Conversion Total costs to account for 960,300 768,231 1.228,531 $ 1,914,285 (a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department. (Round "Cost per EUP" to 2 decimal places.) (b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. Use the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Required a Cost per equivalent unit of production: FIFO method Direct Materials Conversion -Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. Cost assignment--FIFO Beginning work in process To complete beginning work in process Direct materials Conversion EUP Cost per EUP Total cost EUP Cost per EUP Total cost Started and completed Direct materials Conversion Completed and transferred out Ending work in process Direct materials Conversion EUP Cost per EUP Total cost Total costs accounted for Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used in March) $ 34,200 $ 40,200 Direct labor used in March) 25,200 23,200 Overhead applied (March 15,200 14,200 Costs during April Direct materials used 148.000 233,000 $ 113,000 Direct labor used 90,200 163,000 118,000 Overhead applied 2 2 Status on April 30 Finished Tinished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $85,200, b. Raw materials purchases in April are $513,000, and total factory payroll cost in April is $376,000 c. Actual overhead costs incurred in April are Indirect materials, $53 250, Indirect labor, $26.250; factory rent. $35,250, factory utilities, $22.250; and factory equipment depreciation, $54.250 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $648,000 cash in April 1. Determine the amount of overhead applied to each job in April. 306 307 308 April Total Predetermined overhead rate Overhead applied Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 34,200 25,200 15,200 $ 40,200 23,200 14,200 Balances on March 31 Direct materials used in March Direct labor used in March) Overbend applied (March) Costs during April Direct materials used Direct labor used overhead applied Status on April 30 148,000 90,200 233,000 163,000 7 Finished (unsold) $ 113,000 118,000 2 In process Finished (sold) Additional Information 0. Raw Materials Inventory has a March 31 balance of $85.200. b. Raw materials purchases in April are $513,000, and total factory payroll cost in April is $376,000. c. Actual overhead costs incurred in April are Indirect materials. $53,250; Indirect labor, $26,250; factory rent. $35,250; factory utilities, $22,250; and factory equipment depreciation, $54,250, d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $648,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 Job 307 Job 308 April Total $ $ 34,200 25,200 15,200 40.200 23,200 14,200 March Direct materials Direct labor Overhead applied Work in process, beginning April Direct materials Direct labor Overhead applied Costs added in April Total costs Status on April 30 April 30 cost included in 148,000 90,200 233,000 163,000 113,000 118,000 494,000 371.200 Finished (sold) Finished (unsold) In process Step by Step Solution
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