Solution Exhibit B Step 3: Calculate equivalent unit costs under the weighted-average method, Finishing Department of Sligo Toys for April 2010. Transferred- in costs Direct materials Conversion costs Equivalent unit costs of opening work in progress Work in progress, opening (given) Divide by equivalent units of opening work in progress (from Solution Exhibit A) Cost per equivalent unit of opening work in progress € 17,750 ÷ 500 € 35.50 – – – € 7,250 ÷ 300 €24.167 Equivalent unit costs of work done in current period only Costs added in current period (given) Divide by equivalent units of work done in current period (from Solution Exhibit A) Cost per equivalent unit of work done in Current period only €104,000 ÷ 2,000 €52 €23,100 ÷ 2,100 €11 €38,400 ÷ 1,920 €20 Solution Exhibit Cb Step 4: Summarise total costs to account for and assign these costs to units completed and units in closing work in progress using the weighted-average method, Finishing Department of Sligo Toys for April 2010 (in €). Total production Transferred-in costs Direct materials Conversion costs costs Cost per Cost per Cost per Equivalent equivalent Total Equivalent equivalent Total Equivalent equivalent Total units unit costs units unit costs units unit costs (10)= (1) (2) (3)=(1)×(2) (4) (5)(6)=(4)×(5) (7) (8) (9)=(7)×(8) (3)+(6)+(9) Panel Ab Total costs to account for Work in progress, opening (from Solution Exhibit Bi Work done in current period only (from Solution Exhibit Bi To account for i 48.70 * 121,750 2,100 † 11 † 23,100 2,220 ‡ 20.563 ‡ 45,650 190,500 Panel B Assignment of costs Completed and transferred out (2,100 physical units) 400
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