Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April, April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion Exercise 16-9 Weighted average: Costs assigned to output and inventories LO C2 The production department had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of $118,472 of direct materials cost and $48,594 of conversion costs. 182. Using the weighted average method, compute the direct materials cost and the conversion cost per equivalent unit and assign Apres costs to the department's output. (Round "Cost per EUP" to 2 decimal places.) Units EUP Materials Conversion 100% 30% 3 8 Answer is not complete. Equivalent Units of Production (EUP)-Weighted Average Method EUP Materials Units completed and transferred out 300,000 100% 300,000 Units in ending inventory 82,000 80% 65,600 Equivalent units of production 365,600 Cost per Equivalent Unit of Production Materials Costs of beginning inventory 118,472 Costs incurred this period 850,368 Total costs Costs $ 968,840 + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) $322,946.67 Total Costs to Account for: Direct materials - Current period $ 300,000.00 Direct materials. Prior period 82,000.00 Conversion 300,000 24,600 324,600 Conversion 48,594 649,296 $ 697,890 m2 Costs EUP $ 348,945.00 Total costs to account for Total costs accounted for Difference due to rounding costunit Cost Assignment and Reconciliation 382,000.00 1.666,730.00 $(1,284,730.00) EUP Cost per EUP 300,000 300,000 2.65 2.15 Total cost $795,000.00 645,000.00 $ $1,440,000.00 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 65,600 24,600 Cost per EUP $ 2.65 $ 2.15 Total cost $ 173,840.00 52,890.00 226,730.00 $1,666,730.00
