Required information [The following information applies to the questions displayed below.) During April, the first production department of a process manufacturing system completed its work on 330,000 units of a product and transferred them to the next department. Of these transferred units, 66,000 were in process in the production department at the beginning of April and 264,000 were started and completed in April. April's beginning inventory units were 65% complete with respect to materials and 35% complete with respect to conversion. At the end of April, 88,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. Compute the number of equivalent units with respect to both materials used and conversion used in the first production department for April using the weighted-average method. Equivalent Units of Production - Weighted Average % EUP % Units Materials Materials Conversion EUP Conversion Total The production department had $918,775 of direct materials and $723,261 of conversion costs charged to it during April. Also, its April beginning inventory of $185,284 consists of $142,285 of direct materials cost and $42,999 of conversion costs. 1. Compute the direct materials cost per equivalent unit for April. (Round "Cost per EUP" to 2 decimal places.) 2. Compute the conversion cost per equivalent unit for April. (Round "Cost per EUP" to 2 decimal places.) 3. 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.) Units % Materials EUP- Materials % EUP Conversion Conversion Equivalent units of production Cost per Equivalent Unit of Production Materials Conversion Costs EUP Total costs Costs - Equivalent units of production EUP Cost per equivalent unit of production (rounded to 2 decimals) Total Costs to Account for: Total costs to account for: Total costs accounted for Difference due to rounding cost/unit EUP Cost per EUP Total cost Required 3. Cost Assignment and Reconciliation Cost of units transferred out Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Cost per EUP Total cost Prepare the number of equivalent units with respect to both materials and conversion costs in the production department for April using the FIFO method. Equivalent Units of Production - FIFO % EUP- Units Materials Materials % Conversion EUP- Conversion Equivalent units of production The production department had $918,775 of direct materials and $723,261 of conversion costs charged to it during April. Also, its beginning inventory of $185,284 consists of $142,285 of direct materials cost and $42,999 of conversion costs. 1. Compute the direct materials cost per equivalent unit for April. (Round "Cost per EUP" to 2 decimal places.) 2. Compute the conversion cost per equivalent unit for April. (Round "Cost per EUP" to 2 decimal places.) 3. Using the FIFO 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 1. and 2 Equivalent Units of Production (EUP)- FIFO Method Units % Materials EUP- Materials % EUP. Conversion Conversion Equivalent units of production Cost per Equivalent Unit of Production Materials Conversion Costs EUP Costs EUP Total costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs to Account for: Total costs to account for: Total costs accounted for * Difference due to rounding cost/unit Required 3. Assignment of Costs to Output of Department Cost of 66,000 units from beginning inventory Beginning inventory Cost per EUP EUP Total cost EUP Cost per EUP Total cost Materials to complete Conversion to complete Total costs to complete Total cost of 66,000 units in beginning inventory Cost of units started and completed this period Direct materials Conversion costs Total cost of 264,000 units started and completed Total cost of 330,000 units transferred out Costs of units in ending inventory Direct materials Conversion costs Total cost of 88,000 units in ending inventory Total costs assigned EUP Cost per EUP Total cost
