Required information Use the following information for the Exercises below. During April, the first production department of a process manufacturing system completed its work on 390,000 units of a department at the beginning of April and 312,000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April, 100,000 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 Compute the number of equivalent units with respect to both materials used and conversion used in the first production department Equivalent Units of Production - Weighted Average Units % Materials EUPMaterials % Conversion EUPConversion Units completed and transferred out Units of ending work in process inventory - units Total The production department had $1,296,225 of direct materials and $929,160 of conversion costs charged to it during April. Also, its April beginning inventory of $268,115 consists of $231,275 of direct materials cost and $36,840 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.) Required 1. and 2. Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUPMaterials % Conversion EUPConversion Equivalent units of production Cost per Equivalent Unit of Production Materials Conversion Costs Costs EUP EUP Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs to Account for: 0 Total costs to account for Total costs to account for: 0.00 Total costs accounted for Difference due to rounding cost/unit $ 0.00 Required 3. Cost Assignment and Reconciliation Cost of units transferred out Direct materials EUP Cost per EUP Total cost Conversion Total costs transferred out $ $ $ 0.00 0.00 0.00 0.00 Direct materials Conversion Total cost of ending work in process Total costs accounted for Use the following information for the Exercises below. (The following information applies to the questions displayed below.] The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials 33,000 EUP 3,500 EUP Conversion 33,000 EUP 2,100 EUP 36,500 EUP 35,100 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials $ 28,450 358,450 $ 386,900 Conversion $ 3,180 182,850 $186,030 Units in beginning work in process (all completed during July) Units started this period 3,000 33,500 33,000 3,500 Units in ending work in process Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production $ 0.00 $ 0.00 Total costs accounted for *Difference due to rounding cost/unit Unit Reconciliation Units to account for Total units to account for Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP- Materials % Conversion EUP- Conversion Equivalent units of production Cost per EUP Materials Conversion Cost per EUP Materials Conversion Costs EUP Costs EUP 0 Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out Direct materials EUP Cost per EUP Total cost Conversion Total transferred out EUP Total cost Costs of ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Cost per EUP $ 0.00 $ 0.00 Exercise 20-19 Production cost flows LO P1, P2, P3, P4 The flowchart below shows the August production activity of the punching and bending departments of Wire Box Company. Use the amounts shown on the flowchart to compute the missing numbers identified by blank input boxes. Punching Beginning work in process $7,500 Direct materials $60,000 Direct labor $12,000 Factory overhead $15,000 Total costs in process in punching department Ending work in process $6,000 Costs transferred to bending Bending Beginning work in process $9,750 Direct materials Direct labor $30,750 Factory overhead $36,900 Bending Beginning work in process $9,750 Direct materials Direct labor $30,750 Factory overhead $36,900 Total costs in process in bending department $249,150 Ending work in process $12,750 Costs transferred to finished goods Warehouse Ending inventory Beginning inventory $18,000 Cost of goods available for sale Cost of $29ds sold 231,900 Problem 20-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 Fast Co. produces its product through two processing departments. Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout each process. The company uses monthly reporting periods for its weighted average process costing system. The Work in Process Inventory-Cutting account has a balance of $109,300 as of October 1, which consists of $24,600 of direct materials and $84,700 of conversion costs. During the month, the Cutting department incurred the following costs: Direct materials $ 203,650 Conversion 1,020,800 At the beginning of the month, 42,500 units were in process. During October, the company started 165,000 units and transferred 175,000 units to the Assembly department. At the end of the month, the Cutting department's work in process inventory consisted of 32,500 units that were 80% complete with respect to conversion costs. Required: 1. Prepare the Cutting department's process cost summary for October using the weighted average method. 2. Prepare the journal entry dated October 31 to transfer the cost of the partially completed units to Assembly. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the Cutting department's process cost summary for October using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Total costs to account for Total costs accounted for Difference due to rounding cost/unit Unit reconciliation: Units to account for: $ Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)- weighted average method Units % Materials EUP-Materials % Conversion Conversion Total units Cost per equivalent unit of production Materials Conversion Costs Costs EUP EUP Total costs - Equivalent units of production Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out: 0 0 EUP Cost per EUP Total cost Direct materials EUP 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 Cost per EUP Total cost $ 0.00 $ $ 0. 000 0 - Required 1 Required 2 > Required 1 Required 2 Prepare the journal entry dated October 31 to transfer the cost of the partially completed units to Assembly. View transaction list Journal entry worksheet Record the transfer of goods to next department. Note: Enter debits before credits. Date General Journal Debit Credit Oct 31 Record entry Clear entry View general journal