Process Costing - Assembly Department - AUGUSTInformation regarding inventory production for the Assembly Department for Aug is as followsDirect Materials Costs in August for 71,100 UnitsDirect Labor Costs incurred in AugustFactory Overhead costs incurred in AugustWork completed in August: 69,300 unitsEnding Work in Progress, August 31:8,900 units, 60% completed Process Costing - Assembly Department - JULYInformation regarding inventory production for the Assembly Department for July is as follows:s 944,164Direct Materials Costs in July for 54,200 UnitsDirect Labor Costs incurred in JulyFactory Overhead costs incurred in July424,834223,899Work completed in July: 52,700 unitsEnding Work in Progress, July 31: 7,100 units, 90% completedUnits ofEquivalent UnitsProduction of Production forCategoryWhole Unitsfor Materials Conversion CostsStarted in June: Completed in July5,6003,920Started in July: Completed in July47,10047,10047,100Started in July: Completed in August7,1007,1006,390TOTAL59,80054,20057,410a) Materials cost per equivalent unit17.42b.) Conversion cost per equivalent unito.) Cost per unit of finished goods started inJune: completed in Julyd.) Total cost of all finished goods started inJune: completed in July.)Cost per unit of finished goods started andcompleted in Julyf.) Total cost of all finished goods started andcompleted in July11.3028.68160,608.0028.72$ 1,352,712.009)Cost per unit of the work in progressinventory on July 31h) Total cost of the work in process inventoryon July 3128.72$ 195,889.00CHECK ANSWERS – JULY:12057,410G24 S28.68G29 S195,889.00

Work in progress inventory refers to the inventory which is still being in process of converting…

Answered: Process Costing - Assem ding inventory…

Business

Accounting

Process Costing - Assem ding inventory production for

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 16E: Cost of production report The debits to Work in ProcessRoasting Department for Morning Brew Coffee...

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Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Each department uses the weighted average method. For each department, assume that direct Materials are placed in process during production. a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department. b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Winding Department.
Production information shows these costs and units for the smoothing department in August. All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month?
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Baxter Company has two processing departments: Assembly and Finishing. A predetermined overhead rate of 10 per DLH is used to assign overhead to production. The company experienced the following operating activity for April: a. Materials issued to Assembly, 24,000 b. Direct labor cost: Assembly, 500 hours at 9.20 per hour; Finishing, 400 hours at 8 per hour c. Overhead applied to production d. Goods transferred to Finishing, 32,500 e. Goods transferred to finished goods warehouse, 20,500 f. Actual overhead incurred, 10,000 Required: 1. Prepare the required journal entries for the preceding transactions. 2. Assuming Assembly and Finishing have no beginning work-in-process inventories, determine the cost of each departments ending work-in-process inventories.