Please do not give solution in image format thanku Required information[The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April.DirectMaterialsPercentComplete.80%Beginning work in process inventory:Units started this periodCompleted and transferred outEnding work in process inventoryUnits69,000367,000ConversionCosts added this period.Direct materialsConversionTotal costs to account for345,00091,000The production department had the cost information below.Beginning work in process inventoryDirect materials$ 208,95024,705960,890738,51080%$ 233,6551,699,400$ 1,933,055ConversionPercentComplete20%30%(a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department.Note: Round "Cost per EUP" to 2 decimal places.(b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process atperiod-end. Use the FIFO method.Note: Round "Cost per EUP" to 2 decimal places. Cost per equivalent unit of production: FIFO method+ Equivalent units of productionCost per equivalent unit of production (rounded to 2 decimals)Required b.Cost assignment-FIFOBeginning work in processTo complete beginning work in processDirect materialsConversionStarted and completedDirect materialsConversionCompleted and transferred outEnding work in processDirect materialsConversionTotal costs accounted forEUPEUPEUPDirect Materials ConversionCost per EUP0Cost per EUP$0.000.00Cost per EUP$0.000.00$$Total costTotal costTotal cost00000

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Description: Please do not give solution in image format thanku Required information[The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April.DirectMaterialsPercentCo

Equivalent units refer to quantity of incomplete units manufactured by the company that is expressed…

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The first production department of Stone Incorporated reports the following for April. Direct Materials Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 69,000 367,000 345,000 91,000 Percent Complete 80% 80% Conversion Percent Complete 20% 30%

The first production department of Stone Incorporated reports the following for April. Direct Materials Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 69,000 367,000 345,000 91,000 Percent Complete 80% 80% Conversion Percent Complete 20% 30%

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 15E: Costs per equivalent unit and production costs Based on the data in Exercise 17-14, determine the...

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