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, 84,000 were in process in the production department at the beginning of April and 336,000 were started and completed in April. April's beginning inventory units were 80 % complete with respect to materials and 20 % complete with respect to conversion. At the end of April, 106,000 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 20-8 Weighted average: Computing equivalent units of production LO C2 1.Compute the number of units transferred to finished goods 2. Compute the number of equivalent units with respect to both materials used and conversion used in the production department for April using the weighted-average method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of units transferred to finished goods. Units transferred out Required information Problem 20-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 The following information applies to the questions displayed below.] Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 710,000 units of product to finished goods. At the end of November, the work in process inventory consists of 180,000 units that are 50 % complete with respect to conversion. Beginning inventory had $347,100 of direct materials and $180,000 of conversion cost. The direct material cost added in November is $2,322,900, and the conversion cost added is $3,420,000. Beginning work in process consisted of 75,000 units that were 100 % complete with respect to direct materials and 80 % complete with respect to conversion. Of the units completed, 75,000 were from beginning work in process and 635,000 units were started and completed during the period. Problem 20-2A Part 2 2. Compute both the direct material cost and the conversion cost per equivalent unit. Cost per equivalent unit of production Materials Conversion Total costs Costs Costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) EUP EUP Problem 20-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 The following information applies to the questions displayed below.] Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 710,000 units of product to finished goods. At the end of November, the work in process inventory consists of 180,000 units that are 50 % complete with respect to conversion. Beginning inventory had $347,100 of direct materials and $180,000 of conversion cost. The direct material cost added in November is $2,322,900, and the conversion cost added is $3,420,0o0. Beginning work in process consisted of 75,000 units that were 100 % complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 75,000 were from beginning work in process and 635,000 units were started and completed during the period. Problem 20-2A Part 3 3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Cost per EUP Cost of units transferred out Total cost EUP Direct materials Conversion Total costs transferred out Cost per EUP Costs of ending work in process EUP Total cost Direct materials Conversion Total cost of ending work in process Total costs accounted for
