Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)Costs Charged to ProductionTotal costs to account forTotal costs accounted for*Difference due to rounding cost/unitUnit ReconciliationUnits to account forTotal units to account forTotal units accounted forTotal units accounted forEquivalent Units of Production (EUP)- Weighted Average MethodUnits% MaterialsEUP- Materials% ConversionEUP- ConversionEquivalent units of productionCost per EUPMaterialsConversionTotal costsCostsCosts+ Equivalent units of productionEUPEUPCost per equivalent unit of production Required information[The following information applies to the questions displayed below.]The following partially completed process cost summary describes the July production activities of the Moldingdepartment at Ashad Company. Its production output is sent to the next department. All direct materials are added toproducts when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.DirectConversionEquivalent Units of ProductionUnits transferred outMaterials43,500 EUP3,500 EUP43,500 EUP2,100 EUPUnits of ending work in processEquivalent units of production47,000 EUP45,600 EUPDirectCosts per EUPCosts of beginning work in processCosts incurred this periodMaterials$33,700563,200$ 596,900Conversion$4,440333,000Total costs$ 337,440Units in beginning work in process (all completed during July)Units started this periodUnits completed and transferred outUnits in ending work in process3,00044,00043,5003,500Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)Costs Charged to Production

Name: Prepare its process cost summary using the weighted-average method. (
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Description: Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)Costs Charged to ProductionTotal costs to account forTotal costs accounted for*Difference due to rounding cost/unitUnit ReconciliationUnit

Process Costing is a technique used by industries in which there are sequences of processes,…

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products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Direct Conversion Equivalent Units of Production Units transferred out Units of ending work in process Materials 43,500 EUP 3,500 EUP 43,500 EUP 2,100 EUP Equivalent units of production 47,000 EUP 45,600 EUP Direct Costs per EUP Costs of beginning work in process Costs incurred this period Materials Conversion $ 33,700 563,200 2$ 4,440 333,000 Total costs $ 596,900 $ 337,440 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,000 44,000 43,500 3,500

products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Direct Conversion Equivalent Units of Production Units transferred out Units of ending work in process Materials 43,500 EUP 3,500 EUP 43,500 EUP 2,100 EUP Equivalent units of production 47,000 EUP 45,600 EUP Direct Costs per EUP Costs of beginning work in process Costs incurred this period Materials Conversion $ 33,700 563,200 2$ 4,440 333,000 Total costs $ 596,900 $ 337,440 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,000 44,000 43,500 3,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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