Question

Answer A-C using info Equivalent units of production (EUP)- weighted average method (Forming and Packaging cost...

Answer A-C using info

Equivalent units of production (EUP)- weighted average method (Forming and Packaging cost categories)

Units

% Forming Costs

EUP- Forming

% Packaging

EUP- Packaging

Units completed and transferred out

22,700

100%

22,700

100%

22,700

Ending work in process - units

1,960

65%

1,274

65%

1,274

Total units

24,660

23,974

23,974

Cost per equivalent unit of production

Forming

Packaging

Costs of beginning work in process

400,000

200,000

Costs incurred this period

2,497,000

579,720

Total costs

Costs

2,897,000

Costs

779,720

÷ Equivalent units of production

EUP

23,974

EUP

23,974

Cost per equivalent unit of production (show 4 decimal places)

120.8392

32.5236

ASSEMBLY DEPARTMENT

Equivalent units of production (EUP)- weighted average method (Other Direct Material and Conversion costs)

Units

% Other DM Costs

EUP- Other DM

% Conversion

EUP- Conversion

Units completed and transferred out

22,700

100%

22,700

100%

22,700

Ending work in process - units

1,960

65%

1,274

65%

1,274

Total units

24,660

23,974

23,974

Cost per equivalent unit of production

Forming

Packaging

Costs of beginning work in process

27,860

339,660

Costs incurred this period

144,930

996,480

Total costs

Costs

172,790

Costs

1,336,140

÷ Equivalent units of production

EUP

23,974

EUP

23,974

Cost per equivalent unit of production (show 4 decimal places)

7.2074

55.7329

ASSEMBLY DEPARTMENT

Total costs accounted for:

Cost of units transferred out:

EUP

Cost per EUP

Total cost

Forming Costs

22,700

120.8392

2,743,049

Packaging Costs

22,700

32.5236

738,285

Other Direct materials

22,700

7.2074

163,607

Conversion

22,700

55.7329

1,265,136

Total costs transferred out

4,910,077

Costs of ending work in process

EUP

Cost per EUP

Total cost

Forming Costs

1,274

120.8392

153,949

Packaging Costs

1,274

32.5236

41,435

Other Direct materials

1,274

7.2074

9,182

Conversion

1,274

55.7329

71,003

Total cost of ending work in process

275,569

Total costs accounted for

5,185,646

    1. Assume the Finished Goods Inventory was zero units at the beginning of May and zero at the end of May. How many units did they sell during May?
    1. If Tamar Co., Ltd. sold each unit for $300 each, what would their sales revenue be? ____________Write the journal entry to record the sales revenue for May.
    2. How much is their expense (COGS)? _____________ Write the journal entry to record the COGS for May. Post this entry to the Finished Goods account

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