Question: hello please help me with these 3 questions really need help. thank you Chapter 16 Challenge Problem i Saved Required information [The following information applies
hello please help me with these 3 questions really need help. thank you
Chapter 16 Challenge Problem i Saved Required information [The following information applies to the questions displayed below.] Part 1 of 3 Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. 8 Direct points Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 62,000 100% 80% Units started this period 917, 000 eBook Units completed and transferred out 780, 000 Ending work in process inventory 199, 000 100% 70% Beginning work in process inventory Print Direct materials $ 190, 905 Conversion 160, 878 $ 351, 783 Costs added this period Direct materials 1, 277, 595 References Conversion 3, 056, 672 4, 334, 267 Total costs to account for $ 4, 686, 050 Required: 1. Compute equivalent units of production for both direct materials and conversion. Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials Conversion Units Percent EUP Percent EUP Complete Complete Total unitsChapter 16 Challenge Problem i Saved 2 Required information [The following information applies to the questions displayed below.] Part 2 of 3 Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. 8 Direct points Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 62, 000 100% 80% Units started this period 917, 000 Book Units completed and transferred out 780, 000 Ending work in process inventory 199, 000 100% 70% Beginning work in process inventory Print Direct materials $ 190, 905 Conversion 160, 878 $ 351, 783 Costs added this period Direct materials 1, 277, 595 References Conversion 3, 056, 672 4, 334, 267 Total costs to account for $ 4, 686, 050 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Materials Conversion Total costs Costs Costs + Equivalent units of production (from part 1) EUP EUP Cost per equivalent unit of production 03 Required information [The following information applies to the questions displayed below.] Part 3 of 3 Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. 8 Direct points Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 62, 000 100% 80% Units started this period 917, 000 eBook Units completed and transferred out 780, 000 Ending work in process inventory 199, 000 100% 70% Beginning work in process inventory Print Direct materia $ 190, 905 Conversion 160, 878 $ 351, 783 Costs added this period Direct materials 1, 277, 595 References Conversion 3, 056, 672 4, 334, 267 Total costs to account for $ 4, 686, 050 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-Weighted average Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Ending work in process Direct materials $ 0.00 $ Conversion 0.00 0 Total costs accounted forUnits Total units 979,000 Less: Ending work in process inventory -199,000 Units to account for 780,000 Add: Beginning work in process inventory 62,000 Equivalent units of production 842,000 Direct Materials 979,000 -199,000 780,000 62,000 842,000 Conversion 859,000 -139,000 720,000 49,600 769,600
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