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Trout, Inc. prepared the following production report: PLEASE ENTER/WRITE DOWN ANSWERS CLEARLY! THANK YOU. Required: Fill in the missing amounts. (Round your Cost per Equivalent
Trout, Inc. prepared the following production report:
PLEASE ENTER/WRITE DOWN ANSWERS CLEARLY! THANK YOU.
Required: Fill in the missing amounts. (Round your "Cost per Equivalent Unit" answers to 2 decimal places.) TROUT, INC. Process Costing Production Report (Weighted Average Method) UNITS Step 1: Units to be Accounted for: Physical Units Beginning Work in Process 3,050 Started into Production Total Units 8,000 Step 2 Equivalent Units Units Accounted for as follows: Materials Conversion Completed and Transferred 3,100 3,100 Ending Work in Process 4,900 4,900 Total Units 8,000 8,000 6,530 COSTS Cost of Beginning Inventory Current Period Costs Total Cost of Units in Process Equivalent Units Cost per Equivalent Unit Step 3: Cost per Equivalent Unit Materials Conversion Total Cost $ 19,100 $ 12,200 $ 31,300 204,900 190,230 395,130 $ 224,000 $ 202,430 $ 426,430 8,000 6,530 $ 31.00 Cost to be Accounted for: Beginning Work in Process Current Period Costs Total Costs Step 4: Reconcile Work in Process Materials Conversion Total Cost $ 19,100 $ 12,200 $ 31,300 204,900 190,230 395,130 $ 224,000 $ 202,430 $426,430 Cost Accounted for as Follows: Units Completed and Transferred Ending Inventory $ 96,100 106,330 202,430 $ 224,000 $ $ 426,430Step by Step Solution
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