Angerstein Inc. produces calendars in a two-process, two-department operation. In the Printing Department, calendars are printed and cut. In the Assembly Department, the material received from Printing is assembled into individual calendars and bound. Each department maintains its own Work in Process Inventory, and costs are assigned using weighted average process costing. In Assembly, conversion costs are incurred evenly throughout the process; direct material is added at the end of the process. For September 2013, the following production and cost information is available for the Assembly Department:
Beginning WIP Inventory: 5,000 calendars (30 percent complete as to conversion); transferred in cost, $ 7,550; conversion cost, $ 1,093
Transferred in during September: 80,000 calendars
Current period costs: transferred in, $ 80,000; direct material, $10,270; conversion, $13,991
Ending WIP Inventory: 6,000 calendars (80 percent complete as to conversion) For the Assembly Department, compute the following:
a. Equivalent units of production for each cost component
b. Cost per EUP for each cost component
c. Cost transferred to Finished Goods Inventory
d. Cost of ending WIP Inventory