TB Problem 3-115 (Algo) Trout, Incorporated, adds direct materials at the... Required: Trout, Incorporated, adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory was 40% complete. At the end of the period, Work in Proces Inventory was 70% complete. Trout, Incorporated, started the following production report: Complete the production report by filling in the missing amounts. Note: Round your "Cost per Equivalent Unit" answers to 2 decimal places. TB Problem 3-115 (Algo) Trout, Incorporated, adds direct materials at the... Required: Trout, Incorporated, adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory was 40% complete. At the end of the period, Work in Proces Inventory was 70% complete. Trout, Incorporated, started the following production report: Complete the production report by filling in the missing amounts. Note: Round your "Cost per Equivalent Unit" answers to 2 decimal places. Process Costing Production Report (Weighted Average Method) \begin{tabular}{|c|c|c|c|c|} \hline UNITS & Step 1: & & & \\ \hline Units to be accounted for: & Physical Units & & & \\ \hline Beginning Work in Process & 3,050 & & & \\ \hline Started into Production & & & & . \\ \hline Total units & 8,400 & \multicolumn{2}{|c|}{ Step 2} & \\ \hline & & \multicolumn{2}{|c|}{ Equivalent Units } & \\ \hline Units accounted for: & & \begin{tabular}{c} Direct \\ Materials \end{tabular} & \begin{tabular}{c} Conversion \\ Cost \end{tabular} & \\ \hline Completed and transferred & 4,100 & 4,100 & & \\ \hline Ending Work in Process & 4,300 & 4,300 & & {[1} \\ \hline Total units & 8,400 & 8,400 & 7,110 & \\ \hline i & & \multicolumn{3}{|c|}{ Step 3: Cost per Equivalent Unit } \\ \hline costs & 4 & \begin{tabular}{c} Direct \\ Materials \end{tabular} & \begin{tabular}{c} Conversion \\ Cost \end{tabular} & Total Cost \\ \hline Beginning inventory & & $,17,400 & $12,600 & $30,000 \\ \hline Current period costs & & 167,400 & 264,690 & 432,090 \\ \hline Total manufacturing costs & & $184,800 & $277,290 & $462,090 \\ \hline Equivalent units & & 8,400 & 7,110 & \\ \hline Cost per equivalent unit & & & 39.00 & \\ \hlinei & & \multicolumn{3}{|c|}{ Step 4: Reconcile Work in Process } \\ \hline Cost to be accounted for: & & \begin{tabular}{c} Direct \\ Materials \end{tabular} & \begin{tabular}{c} Conversion \\ Cost \end{tabular} & Total Cost \\ \hline Beginning Work in Process & & 17,400 & $12,600 & $30,000 \\ \hline Current period costs & & 167,400 & 264,690 & 432,090 \\ \hline Total manufacturing costs & & $184,800 & $277,290 & $462,090 \\ \hline \multicolumn{5}{|l|}{ Cost accounted for: } \\ \hline Units completed and transferred & & & $159,900 & \\ \hline Ending inventory & & & 117,390 & \\ \hline Total manufacturing costs & & \$ 184,800 & $277,290 & $462,090 \\ \hline \end{tabular} Process Costing Production Report (Weighted Average Method) \begin{tabular}{|c|c|c|c|c|} \hline UNITS & Step 1: & & & \\ \hline Units to be accounted for: & Physical Units & & & \\ \hline Beginning Work in Process & 3,050 & & & \\ \hline Started into Production & & & & . \\ \hline Total units & 8,400 & \multicolumn{2}{|c|}{ Step 2} & \\ \hline & & \multicolumn{2}{|c|}{ Equivalent Units } & \\ \hline Units accounted for: & & \begin{tabular}{c} Direct \\ Materials \end{tabular} & \begin{tabular}{c} Conversion \\ Cost \end{tabular} & \\ \hline Completed and transferred & 4,100 & 4,100 & & \\ \hline Ending Work in Process & 4,300 & 4,300 & & {[1} \\ \hline Total units & 8,400 & 8,400 & 7,110 & \\ \hline i & & \multicolumn{3}{|c|}{ Step 3: Cost per Equivalent Unit } \\ \hline costs & 4 & \begin{tabular}{c} Direct \\ Materials \end{tabular} & \begin{tabular}{c} Conversion \\ Cost \end{tabular} & Total Cost \\ \hline Beginning inventory & & $,17,400 & $12,600 & $30,000 \\ \hline Current period costs & & 167,400 & 264,690 & 432,090 \\ \hline Total manufacturing costs & & $184,800 & $277,290 & $462,090 \\ \hline Equivalent units & & 8,400 & 7,110 & \\ \hline Cost per equivalent unit & & & 39.00 & \\ \hlinei & & \multicolumn{3}{|c|}{ Step 4: Reconcile Work in Process } \\ \hline Cost to be accounted for: & & \begin{tabular}{c} Direct \\ Materials \end{tabular} & \begin{tabular}{c} Conversion \\ Cost \end{tabular} & Total Cost \\ \hline Beginning Work in Process & & 17,400 & $12,600 & $30,000 \\ \hline Current period costs & & 167,400 & 264,690 & 432,090 \\ \hline Total manufacturing costs & & $184,800 & $277,290 & $462,090 \\ \hline \multicolumn{5}{|l|}{ Cost accounted for: } \\ \hline Units completed and transferred & & & $159,900 & \\ \hline Ending inventory & & & 117,390 & \\ \hline Total manufacturing costs & & \$ 184,800 & $277,290 & $462,090 \\ \hline \end{tabular} Swan Corporation began work on 3,200 units this period. Work in Process Inventory was 640 at the beginning of the period ( 60% complete) and 1,140 at the end of the period ( 50% complete). Swan uses the weighted-average method of process costing. All direct materials are added at the beginning of the process, and conversion costs are incurred evenly throughout the process. Required: a. Using the weighted-average method, Compute the number of physical units completed during the period. b. Using the weighted-average method, determine the number of equivalent units for direct materials. c. Using the weighted-average method, determine the number of equivalent units for conversion costs
