Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information The following information applies to the questions displayed below.] The following partially completed process cost summary describes the July production activities of Ashad
Required information The following information applies to the questions displayed below.] The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Direct Materials Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Conversion 36,000 EUP 36,000 EUP 3,500 EUP 2,100 EUP 39,500 EUP 38,100 EUP Direct Materials Conversion s 29,950 3,540 Costs per EUP Costs of beginning work in process Costs incurred this period Total costs 412.450 221,250 $442,400 $ 224,790 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,000 36,500 36,000 3,500 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production Total costs to account for Total costs accounted for *Difference due to rounding cost/unit Unit Reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)- Weighted Average Method EUP- Conversion Units % Materials EUP-Materials % Conversion Equivalent units of production Cost per EUP Materials Conversion Total costs Equivalent units of production Cost per equivalent unit of production Costs Costs EUP EUP Cost Assignment and Reconciliation Cost perTotal cost Costs transferred out EUP EUP Direct materials Conversion Total transferred out Cost per EUP Total cost Costs of ending work in process EUP Direct materials Conversion Total ending work in process 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