Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Percent Units Complete Percent Complete Beginning work in process inventory 71,000 65% Units started this period 377,000 Completed and transferred out 355,000 Ending work in process inventory 93,000 35% 90% 40% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Equivalent units of production: Weighted average method Direct Materials Units Percent Complete EUP Conversion Percent EUP Complete Total The production department had the cost information below. $ 165,239 42,407 $ 207,646 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 1,106,991 800,823 1,907,814 $ 2,115,460 a. Compute cost per equivalent unit for both direct materials and conversion. (Round "Cost per EUP" to 2 decimal places.) b. Using the weighted average method, assign April's costs to the department's output-specifically, its units transferred to the next department and its ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Required a. Cost per equivalent unit of production: Weighted average method Direct Materials Conversion Costs Costs EUP EUP EUP Cost per EUP Total cost Total costs = Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. Cost assignmentWeighted average Completed and transferred out Direct materials Conversion Total costs completed and transferred out Ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Cost per EUP Total cost (a) Compute the number of units started and completed this period for the first production department. Units started and completed (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production department for April using the FIFO method. Conversion Equivalent units of production: FIFO method Direct Materials Units Percent EUP Added Percent Added EUP Equivalent units of production 0 The production department had the cost information below. $ 165,239 42,407 $ 207,646 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 1,106,991 800,823 1,907,814 $ 2,115,460 (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 Costs Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Costs EUP EUP 0 0 EUP Cost per EUP Total cost S 0.00 EUP Required b. Cost assignmentFIFO Beginning work in process To complete beginning work in process Direct materials Conversion Total costs to complete Total cost of complete beginning work in process Started and completed Direct materials Conversion Total cost of started and completed Completed and transferred out Ending work in process Direct materials Conversion costs Total cost of ending inventory work in process Total costs accounted for Cost per EUP Total cost S 0.00 $ 0.00 S 0.00 0.00 EUP Cost per EUP Total cost S 0.00 $ 0.00 S 0.00 0.00
