FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Use the following information for the Exercises below. (Algo)
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[The following information applies to the questions displayed below.]
The first production department of Stone Incorporated reports the following for April.
Direct Materials Conversion
Units
Percent Complete
84,000
442,000
420,000
106,000
Percent Complete
Beginning work in process inventory
Units started this period
Completed and transferred out
Ending work in process inventory
Exercise 16-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1
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
$ 339,208
26,430
1,452,832
1,035,300
80%
80%
$365,638
2,488,132
$ 2,853,770
20%
30%
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.)
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Transcribed Image Text:Required information Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Percent Complete 84,000 442,000 420,000 106,000 Percent Complete Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Exercise 16-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1 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 $ 339,208 26,430 1,452,832 1,035,300 80% 80% $365,638 2,488,132 $ 2,853,770 20% 30% 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.)
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