Costing Process [EUP] A company started its business this year. It started 500 units into production and completed 400 units. Direct materials are added at the beginning of the process. Conversion costs are spent evenly throughout production. Ending work in process inventoryry was 80 % completed with respect to conversion costs. Calculate the equivalent units of production. Single-stage Production Process] GDI is a manufacturer of military equipment All products go through an identical manufacturing process. Process costing has a (DM) and a single indirect-cost category (CC). DMs are added at the beginning of the process. CCs are added evenly throughout the process. The weighted-average method is used for units single direct-cost category and costs. Determine the cost of goods manufactured and the ending Work-In-Process Beginning Work-In-Process Physical units 400 Direct materials $120,000 $ 36,000 Conversion costs Degree of completion 60% Started Physical units 1,000 Direct materials $370,000 Conversion costs $168,480 Completed Ending Work-In-Process Physical units 1,200 Physical units 200 Degree of completion 40% [Two-stage Production Process] This is the continuation of the above question: the second stage production of GDI. Direct materials are added when the process is 50% completed. Conversion costs are added evenly throughout the process. Beginning Work-In-Process Physical units 300 Transferred-in costs $138,300 Direct materials $ Conversion costs $ 15,640 Degree of completion 40% Started Physical units 1,200 Transferred-in costs 7 Direct materials $275,000 Conversion costs $159,000 Completed Physical units 1,100 Ending Work-In-Process Physical units 00 Degree of completion 20% Oh On Requirement : FIFO method is used for units and costs in the second stage (the weighted average method was used in the first stage). Determine the cost of goods manufactured and the ending Work-In-Process Standard Cost System in Process Costing] Bio-DC is a biotech company in Milpitas. It makes a cancer-treatment drug through a single processing department. Direct materials are added at the start of the process. Conversion costs are added evenly throughout the process. Bio-DC uses standard cost system in process costing: it determines the standard cost of $8.25 per equivalent unit for direct materials and $12.70 per equivalent unit for conversion costs for both beginning Work-In-Process and the work done in the current period. Determine the cost of goods manufactured and the ending Work-In-Process Equivalent Units Conversion Physical Units Direct Materials Costs Work-In-Process, July 1 8,500 1,700 8,500 Started during July 35,000 Completed and transferred out during July 33,000 33,000 33,000 Work-In-Process, July 31 10,500 10,500 6,300 Degree of completion: direct materials, 100 % ; conversion costs, 20 % Degree of completion: direct materials, 100 % ; conversion costs, 60% Total Costs for July 2011 Work-In-Process, beginning Direct materials $63,100 Conversion costs $45,510 $108,610 Direct materials added during July $284,900 Conversion costs added during July $485,040 Total costs to account for $878,550