Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Skip to question [ The following information applies to the questions displayed below. ] The first production department of Stone Incorporated reports the

Required information
Skip to question
[The following information applies to the questions displayed below.]
The first production department of Stone Incorporated reports the following for April.
Units Direct Materials Conversion
Percent Complete Percent Complete
Beginning work in process inventory 67,00070%30%
Units started this period 357,000
Completed and transferred out 335,000
Ending work in process inventory 89,00085%35%
The production department had the cost information below.
Beginning work in process inventory
Direct materials $ 148,455
Conversion 37,299 $ 185,754
Costs added this period
Direct materials 960,300
Conversion 768,2311,728,531
Total costs to account for $ 1,914,285
Compute cost per equivalent unit for both direct materials and conversion.
Note: Round "Cost per EUP" to 2 decimal places.
Using the weighted average method, assign Aprils costs to the departments outputspecifically, its units transferred to the next department and its ending work in process inventory.
Note: Round "Cost per EUP" to 2 decimal places.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Financial Accounting And Reporting

Authors: Ciaran Connolly

6th Edition

1912350025, 978-1912350025

More Books

Students also viewed these Accounting questions

Question

Describe several models for organizing a human resources department

Answered: 1 week ago