Answered step by step
Verified Expert Solution
Question
1 Approved Answer
! Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department
! Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials $ 32,950 Conversion 4,260 $ 37,210 Costs added this period Direct materials 531,250 Conversion 308,850 840,100 Total costs to account for $ 877,310 Direct Materials Percent Complete 100% Conversion Percent Complete 20% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 3,000 42,500 42,000 3,500 100% 60% Prepare a production cost report using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Unit reconciliation Units to account for Total units to account for Units accounted for Total units accounted for Equivalent units of production (EUP) - FIFO method Direct Materials Conversion Units % Added EUP % Added EUP Equivalent Units of Production Cost per EUP Direct Materials Conversion - Equivalent units of production Cost per EUP (rounded to 2 decimals) 0 0 Cost assignment EUP Cost per EUP Total cost Beginning work in process To complete beginning work in process Direct materials Conversion EUP Total cost Started and completed Direct materials Conversion Cost per EUP S 0.00 S 0.00 on $ 0.00 EUP Cost per EUP Total cost Completed and transferred out Ending work in process Direct materials Conversion S 0.00 0.00 S Total costs accounted for
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started