View History Bookmarks Window Help Ch 14 15 16 6 Help Save

View History Bookmarks Window Help Ch. 14, 15, 16 6 Help Save & Ex Required information The following information applies to the questions displayed below The following partially completed process cost summary describes the July production activities of Ashad Company Its production output is sent to its warehouse for shipping All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. of 2 Units transferred out Units of ending vork in process Equivalent units of production 00 U Costs of begineing work in process Costs ineurzed this per Lod Total costs $ 4,950 5,360 490 050280:730 534.000 286,090 Unita in beginning vork in process rall conpleted during July) units started thi?period Ueita conpleted and transterred out Units in ending work in process 0, 500 4,500 8 3 5

Solution

Weighted Average method:

FIFO method:

Costs Charged to Production
Costs of beginning work in process	49310
Costs incurred this period	770780
Total costs to account for	820090
Total costs accounted for	820090
*Difference due to rounding cost/unit	0
Unit reconciliation
Units to account for
Beginning work in process	4000
Units started this period	40500
Total units to account for	44500
Total units accounted for
Units completed and transferred out	40000
Ending work in process	4500
Total units accounted for	44500