Christie's Co. manufactures cookies. The company has two departments, Mixing and Baking. For the Baking Department, material is added at the beginning of the process. Work happens evenly throughout the process, so Conversion Costs are added evenly to the product. Once mixing is complete, the cookies pieces are immediately transferred to the Baking Department. Once the baking is complete, the final product is transferred to Finished Goods Inventory. Data for the Baking Department is as follows:   Units Transfer $ Direct Materials $ % Complete Conv Costs % Complete Opening WIP           550 $3,500 $2,800 100% $2,100 30% New units & Costs        2,000 $12,300 $8,100   $14,000   Ending WIP           680     ???   65% Calculate the physical and equivalent units for Transferred-In, Direct Materials and Conversion Costs

Muskoge Company uses a process-costing system. The companymanufactures a product that is processed in two departments: Moldingand Assembly. In the Molding Department, direct materials are added atthe beginning of the process; in the Assembly Department, additionaldirect materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout theprocess. As work is completed, it is transferred out. The following tablesummarizes the production activity and costs for February:   Required:1. Using the weighted average method, prepare the following forthe Molding Department: a. A physical flow scheduleb. An equivalent units calculationc. Calculation of unit costs. Round to four decimal places.d. Cost of ending work in process and cost of goods transferred out e. A cost reconciliation2. Prepare journal entries that show the flow of manufacturingcosts for the Molding Department. Materials are added at thebeginning of the process.3. Repeat…

Healthway uses a process-costing system to compute the unit costs of the minerals that it produces. It has three departments: Mixing, Tableting, and Bottling. In Mixing, at the beginning of the process all materials are added and the ingredients for the minerals are measured, sifted, and blended together. The mix is transferred out in gallon containers. The Tableting Department takes the powdered mix and places it in capsules. One gallon of powdered mix converts to 1,600 capsules. After the capsules are filled and polished, they are transferred to Bottling where they are placed in bottles, which are then affixed with a safety seal and a lid and labeled. Each bottle receives 50 capsules. During July, the following results are available for the first two departments (direct materials are added at the beginning in both departments): Overhead in both departments is applied as a percentage of direct labor costs. In the Mixing Department, overhead is 200 percent of direct labor. In the Tableting Department, the overhead rate is 150 percent of direct labor. Required: 1. Prepare a production report for the Mixing Department using the weighted average method. Follow the five steps outlined in the chapter. Round unit cost to three decimal places. 2. Prepare a production report for the Tableting Department. Materials are added at the beginning of the process. Follow the five steps outlined in the chapter. Round unit cost to four decimal places.

Benson Pharmaceuticals uses a process-costing system to compute the unit costs of the over-the-counter cold remedies that it produces. It has three departments: mixing, encapsulating, and bottling. In mixing, the ingredients for the cold capsules are measured, sifted, and blended (with materials assumed to be uniformly added throughout the process). The mix is transferred out in gallon containers. The encapsulating department takes the powdered mix and places it in capsules (which are necessarily added at the beginning of the process). One gallon of powdered mix converts into 1,500 capsules. After the capsules are filled and polished, they are transferred to bottling, where they are placed in bottles that are then affixed with a safety seal, lid, and label. Each bottle receives 50 capsules. During March, the following results are available for the first two departments: Overhead in both departments is applied as a percentage of direct labor costs. In the mixing department, overhead is 200% of direct labor. In the encapsulating department, the overhead rate is 150% of direct labor. Required: 1. Prepare a production report for the mixing department using the weighted average method. Follow the five steps outlined in the chapter. (Note: Round to two decimal places for the unit cost.) 2. Prepare a production report for the encapsulating department using the weighted average method. Follow the five steps outlined in the chapter. (Note: Round to four decimal places for the unit cost.) 3. CONCEPTUAL CONNECTION Explain why the weighted average method is easier to use than FIFO. Explain when weighted average will give about the same results as FIFO.

Entries for materials cost flows in a process cost system The Hershey Company manufactures chocolate confectionery products. The three largest raw materials are cocoa, sugar, and dehydrated milk. These raw materials first go into the Blending Department. The blended product is then sent to the Molding Department, where the bars of candy are formed. The candy is then sent to the Packing Department, where the bars are wrapped and boxed. The boxed candy is then sent to the distribution center, where it is eventually sold to food brokers and retailers. Show the accounts debited and credited for each of the following business events: A. Materials used by the Blending Department B. Transfer of blended product to the Molding Department C. Transfer of chocolate to the Packing Department D. Transfer of boxed chocolate to the distribution center E. Sale of boxed chocolate

Rameriz Company is a process manufacturer with two production departments, Blending and Filling. All direct materials are introduced in Blending from the materials store area. What is included in the cost transferred to Filling?

Classify each of the following departments in a factory that produces crme-filled snack cakes as a producing department or a support department. a. Janitorial b. Baking c. Inspection d. Mixing e. Engineering f. Grounds g. Purchasing h. Packaging i. Icing (frosts top of snack cakes and adds decorative squiggle) j. Filling (injects crme mixture into baked snack cakes) k. Personnel l. Cafeteria m. General factory n. Machine maintenance o. Bookkeeping

Muskoge Company uses a process-costing system. The company manufactures a product that isprocessed in two departments: Molding and Assembly. In the Molding Department, directmaterials are added at the beginning of the process; in the Assembly Department, additionaldirect materials are added at the end of the process. In both departments, conversion costs areincurred uniformly throughout the process. As work is completed, it is transferred out. Thefollowing table summarizes the production activity and costs for February: Molding AssemblyBeginning inventories: Physical units 10,000 8,000 Costs: Transferred in — $ 45,400 Direct materials $22,000 — Conversion costs $13,800 $ 16,700Current production: Units started 25,000 ? Units transferred out 30,000 35,000 Costs: Transferred in — ? Direct materials $ 56,250 $ 40,250 Conversion costs $103,500 $142,845 Percentage of completion: Beginning inventory 40% 55% Ending inventory 80 50Required:3. Using the FIFO method, prepare the following for…

Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Required 1 Required 2 Unit reconciliation: Units to account for: Units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP) Equivalent Units of Production Cost per equivalent unit of production Units Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion 30,000 140,000 150,000 20,000 Complete this question by entering your answers in the tabs below. Ending work in process Direct materials Conversion Required: 1. Prepare the…

Whiffle Company produces children's whiffle ball sets using a three-step sequential process that includes molding, coloring and finishing. When the sets are completely finished, out of which account should the cost be transferred? OA. WIP Inventory- Coloring OB. WIP Inventory-Molding OC. WIP Inventory - Finishing (...)