Funtime Inc. makes small toys in a one-department production process. Beginning Inventory: 15000 toys (60% complete to labor; 75% complete as to overhead)
Started into production: plastic for 620000 toys
Ending WIP Inventory: 25400 toys (35% complete as to labor; 60% complete as to overhead) a) Compute the EUP for direct material; direct labor; and overhead using weighted average process costing. (template for answer is below)
Beginning WIP
inventory
?
Started
?
To account
for
635000
Beginning WIP
inventory ?
Started and
completed
?
Ending
WIP
?
Accounted
for
635000 Units DM DL
OH
Beginning WIP inventory ?
? ? ?
Started & completed
? ?
? ?
Ending WIP inventory
? ?
? ?
Equivalent units 635000 635000 618490
624840