Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 80,000 Percent Complete

image text in transcribedimage text in transcribed

The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 80,000 Percent Complete 60% Percent Complete 40% Units started this period 422,000 Completed and transferred out 400,000 Ending work in process inventory 102,000 90% 40% The production department had the cost information below. Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 196,304 68,624 $ 264,928 2,440,522 $ 2,705,450 1,451,226 989,296 a. Compute cost per equivalent unit for both direct materials and conversion. (Round "Cost per EUP" to 2 decimal places.) b. 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.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

14th edition

130565353X, 978-1305887510, 1305887514, 978-1305653535

More Books

Students also viewed these Accounting questions