Question

The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.

Equivalent Units of Production	Direct Materials			Conversion
Units transferred out		41,500	EUP		41,500	EUP
Units of ending work in process		3,500	EUP		2,100	EUP
Equivalent units of production		45,000	EUP		43,600	EUP

Costs per EUP	Direct Materials				Conversion
Costs of beginning work in process		$	32,700			$	4,200
Costs incurred this period			520,800				301,000
Total costs		$	553,500			$	305,200

Units in beginning work in process (all completed during July)	3,000
Units started this period	42,000
Units completed and transferred out	41,500
Units in ending work in process	3,500

Answer 1

	Material	Conversion	Total
Cost of Beginning Work in Process	$            32,700	$                 4,200	$            36,900
Cost added during the period	$          520,800	$            301,000	$         821,800
Total Cost	$          553,500	$            305,200	$         858,700
Equivalent units of Production	45000	43600
Cost per equivalent unit	$              12.30	$                   7.00	$              19.30

	Material	Conversion	Total
Units Completed and transferred out
Units transferred to next department	41500	41500
Cost per equivalent unit	$              12.30	$                   7.00
Cost of units transferred out	$          510,450	$            290,500	$         800,950

	Material	Conversion	Total
Ending work in Process Inventory
Equivalent units of Production	3500	2100
Cost per equivalent unit	$              12.30	$                   7.00
Cost of Ending work in Process Inventory	$            43,050	$              14,700	$           57,750

Reconciliation
Costs to be accounted for :
Cost of beginning work in process inventory	$            36,900
Costs added to the production during the period	$          821,800
Total Costs to be accounted for	$          858,700
Cost of Ending work in Process Inventory	$            57,750
Cost of units transferred out	$          800,950
Total Costs accounted for	$          858,700

Since requirement was not specified, i tried to complete all parts of production report.
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