60.1K

Verified Solution

Link Copied!

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) The first production department of Stone Incorporated reports the following for Aprt. Converse Direct Materials Percent Complete Percent Complete Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory 71,000 377,000 355,000 93,000 Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1 The production department had the cost information below The production department had the cost information below. Beginning work in process inventory Direct materials $ 165,239 Conversion 42,407 $ 297,646 Costs added this period Direct materials 1,186,991 Conversion 800,823 1 907,814 Total costs to account for $ 2,115,460 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.) Cost per equivalent of production Welated average od Costs of beginning inventory Costs EUP Cors EUP EUP Cost per EUP Total cost Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. Cost assignment Weighted average Completed and transferred out Direct materials Conversion Total costs completed and transferred out Ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Cost per EUP Total cost

Answer & Explanation Solved by verified expert

See Answer