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 Percent Complete 65% Conversion Percent Complete 35% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 61,000 327,000 305,000 83,000 85% 35% The production department had the cost information below. $ 122,032 41,708 $ 163,740 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion 779, 288 659,797 1,439,085 $ 1,602,825 Total costs to account for 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 Total costs Costs Costs EUP EUP 0 0 - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. Cost assignment-Weighted average Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total costs completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $ 0.00 $ 0.00 Conversion 0.00 0.00 Total cost of ending work in process Total costs accounted for (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. Equivalent units of production: FIFO method Direct Materials Units Percent EUP Added Conversion Percent Added EUP Equivalent units of production 0 The production department had the cost information below. $ 122,032 41,708 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 163,740 779, 288 659,797 1,439,085 $ 1,602,825 Total costs to account for (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 Total costs Costs Costs EUP EUP - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) 0 0 Required b. Cost assignment-FIFO Beginning work in process To complete beginning work in process EUP Cost per EUP Total cost Direct materials Conversion Total costs to complete Total cost of complete beginning work in process $ 0.00 Started and completed EUP Cost per EUP Total cost Direct materials 0.00 0.00 Conversion $ 0.00 0.00 Total cost of started and completed Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $ 0.00 $ 0.00 Conversion costs $ 0.00 0.00 Total cost of ending inventory work in process Total costs accounted for
