Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The esult is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and pooled onto reels. The company uses the weighted-average method in its process costing system. Data for March for the Drying Department follow: Percent Completed Pulping 100% Units Conversion Work in process inventory, March 1 Work in process inventory, March 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added during March Conversion cost added during March 5,000 8,000 20% 100% 25% $ 4,800 2$ 500 157,000 $ 102,450 $ 31,300 No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet

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 $ DirectMaterials $ % 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

Gladden Dock Company manufactures boat docks on an assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Finishing Department. This problem focuses on the Assembly Department.   Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production.  The firm uses FIFO method and the controller prepared the following (correct) equivalent unit calculation.           Unitscompleted Physical    Units Direct    Materials        Conversion   WIP, beginning 70     0 52.5   Started and completed 30 30 30   WIP, ending 10 10     5   Totals 110 40 87.5    Cost per Equiv Unit   $4,000 $16,000 Work in process, beginning inventory:       Current Costs:Direct materials $140,000                               Direct materials      $   160,000Conversion costs $260,000                             Conversion…

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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…

Sound Tek Inc. manufactures electronic stereo equipment. The manufacturing process includes printed circuit (PC) board assembly, final assembly, testing, and shipping. In the PC board assembly operation, a number of individuals are responsible for assembling electronic components into printed circuit boards. Each operator is responsible for soldering components according to a given set of instructions. Operators work on batches of 50 printed circuit boards. Each board requires 4 minutes of board assembly time. After each batch is completed, the operator moves the assembled boards to the final assembly area. This move takes 12 minutes to complete. The final assembly for each stereo unit requires 19 minutes and is also done in batches of 50 units. A batch of 50 stereos is moved into the test building, which is across the street. The move takes 20 minutes. Before conducting the test, the test equipment must be set up for the particular stereo model. The test setup requires 30 minutes. The…

Watertime inc. manufactures old fashioned grandfather clocks. The production utilizes a highly automated assembly line. The firm has identified two cost categories: direct materials and conversion costs. During the production process each clock moves first through the Assembly Department, where materials are added and the clock is assembled, then through the Testing Department, where the clock is inspected for quality control. All direct materials are added at the beginning of the production process but conversion costs are allocated evenly throughout production. Spartans Inc. uses weighted-average costing. Data for Department A for June 2020 are:        Beginning WiP Inventory                                         320 units             Direct Materials (100% complete)             Conversion (35% complete)        Units started during June                                        750 units        Ending WiP Inventory June 30                               300 units             Direct…

Devereaux Cycles makes three models of scooter: Commuter, Sport, and X-treme. The scooters are produced in four departments: Assembly, Detailing, Customization, and Packaging. All three models are started in Assembly, where all materials are assembled. The Commuter is then sent to Packaging, where it is packaged and transferred to finished goods inventory. The Sport is then transferred to Detailing. Once the detailing process is completed, the Sport models are transferred to Packaging and then finished goods. The X- Treme model is assembled and then transferred to Customization, and then Packaging. When packaged, it is transferred to finished goods. Data for February are shown in the following table. Conversion costs are allocated based on the number of units processed in each department. No work-in-process inventories are maintained in any department. Materials Conversion costs: Assembly Detailing Customization Packaging Total conversion costs Commuter Sport X-Treme Total $ 3,694,000…

Ferdon Watches, Inc., makes four models of watches, Gag-Gift, Commuter, Sport, and Retirement. Ferdon manufactures the watches in four departments: Assembly, Polishing, Special Finishing, and Packaging. All four models are started in Assembly where all material is assembled. The Gag-Gift is transferred to Packaging, where it is packaged and transferred to finished goods inventory. The Commuter and Sport are assembled, then transferred to Polishing. Once the polishing process is completed, they are transferred to Packaging and then finished goods. The Retirement model is assembled and then transferred to Special Finishing, and then Packaging. When packaged, it is transferred to finished goods. Data for October are shown in the following table. Conversion costs are allocated based on the number of units processed in each department.       Total   Gag-Gift(5,000 units)   Commuter(10,000 units)   Sport(13,000 units)   Retirement(2,000 units)   Materials $ 321,000   $ 15,000   $ 90,000…

Alchemy Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments Mixing, Refining, and Packaging. On January 1, the first department-Mixing-had no beginning inventory. During January, 52,000 fl. oz. of chemicals were started in production. Of these, 36,000 fl. oz. were completed and 16,000 fl. oz. remained in process. In the Mixing Department, all direct materials are added at the beginning of the production process, and conversion costs are applied evenly throughout the process. The weighted average method is used. At the end of the month, Alchemy calculated equivalent units of production. The ending inventory in the Mixing Department was 70% complete with respect to conversion costs. With respect to direct materials, what is the number of equivalent units of production in the ending inventory? OA. 16,000 equivalent units B. 36,000 equivalent units OC. 52,000 equivalent units OD. 11,200 equivalent units ***