Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 20% complete with regard to conversion costs.Costs to Account for Units to Account for Beginning inventory: materials $5,000Beginning work in process3,500Beginning inventory: conversion 900Units started into production85,000Direct material 27,810Transferred out84,500Direct labor 44,540 Applied overhead 12,500 Transferred-in materials 7,900 Transferred-in conversion 10,300 Total costs to account for $108,950 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places.Production ReportCompleted and transferred outfill in the blank 1 Ending work in processfill in the blank 2 Total units to account forfill in the blank 3 Work in process completion percent100%20% Material UnitsConversion UnitsTotal UnitsCompleted and transferred outfill in the blank 4fill in the blank 5fill in the blank 6Ending work in processfill in the blank 7fill in the blank 8fill in the blank 9Total units to account forfill in the blank 10fill in the blank 11fill in the blank 12 Costs to account forMaterialsConversionTotalBeginning work in process$fill in the blank 13$fill in the blank 14$fill in the blank 15Transferred infill in the blank 16fill in the blank 17fill in the blank 18Incurred during the periodfill in the blank 19fill in the blank 20fill in the blank 21Total costs to account for$fill in the blank 22$fill in the blank 23$fill in the blank 24Equivalent unitsfill in the blank 25fill in the blank 26 Cost per equivalent unit for department$fill in the blank 27$fill in the blank 28$fill in the blank 29 Transferred-out costs $fill in the blank 30 End work in process: materials$fill in the blank 31 End work in process: conversionfill in the blank 32 End work in process: total fill in the blank 33 Costs to account for $fill in the blank 34

Answered: Given the following information,…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3EA: Given the following information, determine the equivalent units of ending work in process for...

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Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 20% complete with regard to conversion costs.

Costs to Account for		Units to Account for
Beginning inventory: materials	$5,000	Beginning work in process	3,500
Beginning inventory: conversion	900	Units started into production	85,000
Direct material	27,810	Transferred out	84,500
Direct labor	44,540
Applied overhead	12,500
Transferred-in materials	7,900
Transferred-in conversion	10,300
Total costs to account for	$108,950

Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places.

Production Report
Completed and transferred out	fill in the blank 1
Ending work in process	fill in the blank 2
Total units to account for	fill in the blank 3

Work in process completion percent	100%	20%
	Material Units	Conversion Units	Total Units
Completed and transferred out	fill in the blank 4	fill in the blank 5	fill in the blank 6
Ending work in process	fill in the blank 7	fill in the blank 8	fill in the blank 9
Total units to account for	fill in the blank 10	fill in the blank 11	fill in the blank 12

Costs to account for	Materials	Conversion	Total
Beginning work in process	$fill in the blank 13	$fill in the blank 14	$fill in the blank 15
Transferred in	fill in the blank 16	fill in the blank 17	fill in the blank 18
Incurred during the period	fill in the blank 19	fill in the blank 20	fill in the blank 21
Total costs to account for	$fill in the blank 22	$fill in the blank 23	$fill in the blank 24
Equivalent units	fill in the blank 25	fill in the blank 26
Cost per equivalent unit for department	$fill in the blank 27	$fill in the blank 28	$fill in the blank 29

Transferred-out costs		$fill in the blank 30
End work in process: materials	$fill in the blank 31
End work in process: conversion	fill in the blank 32
End work in process: total		fill in the blank 33
Costs to account for		$fill in the blank 34

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