Question

Check my work 2 Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units ints . ES 02:42:27 Beginning inventory of 3,600 units that are 100 percent complete for materials and 23 percent complete for conversion. • 14,400 units started during the period. • Ending inventory of 3,400 units that are 19 percent complete for conversion. eBook Hint Manufacturing Costs Print References • Beginning inventory was $19,900 ($10,300 materials and $9,600 conversion costs). • Costs added during the month were $29,000 for materials and $48,800 for conversion ($28,100 labor and $20,700 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 aw 1 < Prev 2 of 3 11 Next >

Answer 1

1.

Equivalent units of production (EUP) - Weighted Average method
	Units	% material	EUP-Materials	% Conversion	EUP- Conversion
Units Completed and transferred out (3600+14400-3400)	14600	100%	14600	100%	14600
units of Ending work in process	3400	100%	3400	19%	646
Equivalent units of production			18000		15246

2.

Cost per Equivalent unit:	Material	Conversion
Cost of Beginning Work in Process	$10,300	$9,600
Cost added during the month	$29,000	$48,800
Total Costs	$39,300	$58,400
/Equivalent units of Production	18000	15246
Cost per Equivalent unit of Production	$2.18333	$3.83051

Cost Assignment and reconciliation
Cost of Units Transferred Out	EUP	Cost per EUP	Total Cost
Material	14600	$2.18333	$31,877
Conversion	14600	$3.83051	$55,925
Total transferred out			$87,802
Cost of ending work in process	EUP	Cost per EUP	Total Cost
Material	3400	$2.18333	$7,423
Conversion	646	$3.83051	$2,475
Total Ending work in process			$9,898