1. The production department in a process manufacturing system completed 92,000 units of product and transfe
ed them to finished goods during a recent period. Of these units, 27,600 were in process at the beginning of the period. The other 64,400 units were started and completed during the period. At period-end, 16,600 units were in process.
Prepare the department’s equivalent units of production with respect to direct materials under each of three separate assumptions using the weighted-average method for process costing.
2. The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 30,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $69,100 consisted of $50,200 of direct materials costs and $18,900 of conversion costs.
During the month, the forming department started 390,000 units. At the end of the month, the forming department had 40,000 units in ending inventory, 80% complete as to materials and 30% complete as to conversion. Units completed in the forming department are transfe
ed to the painting department.
Cost information for the forming department is as follows:
Beginning work in process inventory $ 69,100
Direct materials added during the month 1,507,160
Conversion added during the month 1,031,660
a.) Direct materials:
Conversion:
.) Direct materials: ______ per EUP
Conversion: XXXXXXXXXX______ per EUP
c.)
3.) During April, the production department of a process manufacturing system completed a number of units of a product and transfe
ed them to finished goods. Of these transfe
ed units, 73,000 were in process in the production department at the beginning of April and 292,000 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, 95,000 additional units were in process in the production department and were 85% complete with respect to materials and 35% complete with respect to conversion.
a. Compute the number of units transfe
ed to finished goods.
Units Transfe
ed out: _______
. Compute the number of equivalent units with respect to both materials used and conversion used in the production department for April using the weighted-average method.
4.) During April, the production department of a process manufacturing system completed a number of units of a product and transfe
ed them to finished goods. Of these transfe
ed units, 73,000 were in process in the production department at the beginning of April and 292,000 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, 95,000 additional units were in process in the production department and were 85% complete with respect to materials and 35% complete with respect to conversion.
The production department had $1,165,180 of direct materials and $779,000 of conversion costs charged to it during April. Also, its beginning inventory of $189,570 consists of $172,070 of direct materials cost and $17,500 of conversion costs.
1&2. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department’s output. (Round "Cost per EUP" to 2 decimal places.)