EUP; cost per EUP; cost assignment; WA & FIFO

Found Sound mass$-$produces miniature speakers for personal sound systems. The following cost information is available for June:

On June $1,$ the company had $1,000$ units in process, which were $60$ percent complete as to material and $30$ percent complete as to conversion. Found Sound

started $8,400$ units into process during June and had $300$ units still in process on June $30.$ The ending WIP units were $80$ percent complete as to material and $70$

percent complete as to conversion.

a$.$ Compute the unit costs for June under the weighted average method for direct material and for conversion.

Note: Round your answers to two decimal places $($i$.$e$.$ round $$4\mathrm{.}355$ to $$4\mathrm{.}36).$

Material cost per EUP $

Conversion cost per EUP $

b$.$ Determine the cost transferred out for June using the weighted average method.

Note: Use the rounded rates from part $($a$)$ in your calculations.

Note: Display your answer below showing two decimal places.

c$.$ Determine the cost of June $30$ ending inventory using the weighted average method.

Note: Use the rounded rates from part $($a$)$ in your calculations.

Note: Display your answer below showing two decimal places.

$

d$.$ Compute the unit costs for June under the FIFO method for direct material and for conversion.

Note: Round your answers to two decimal places $($i$.$e$.$ round $$4\mathrm{.}355$ to $$4\mathrm{.}36).$

Material cost per EUP $

Conversion cost per EUP $

e$.$ Determine the total costs transferred to Finished Goods Inventory during June using the FIFO method.

Note: Use the rounded rates from part $($d$)$ in your calculations.

Note: Display your answer below showing two decimal places.

$f.$ Determine the cost of June $30$ ending inventory using the FIFO method.

Note: Use the rounded rates from part $($d$)$ in your calculations.

Note: Display your answer below showing two decimal places.

s

g$.$ Prepare the entries for the direct material, direct labor, and overhead cost assigned to production during June as well as the transfer of the completed goods

during June using the weighted average method.

Note: Round amounts to the nearest whole dollar.