Concept explainers
Sharma Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of the year, there were no work-in-process or finished goods inventories. The following data are available for the month of July:
Department |
Manufacturing Costs Added* |
Ending Work in Process |
||
---|---|---|---|---|
Mixing | $93,760 | $21,930 | ||
Encapsulating | 80,240 | 19,380 | ||
Bottling | 72,790 | 2,950 |
*Includes only the direct materials, direct labor, and the
Required:
Question Content Area
1. Prepare
a. |
|
Work in Process-Mixing | |
|
Work in Process-Encapsulating | ||
b. |
|
Work in Process-Encapsulating | |
|
Work in Process-Bottling | ||
c. |
|
Work in Process-Bottling | |
|
Finished Goods |
As the work is finished in a process (department), the partially completed units and all their associated costs are transferred to the next process (department) by debiting the WIP account of the process receiving the unit and crediting the WIP account of the transferring process (department).
Question Content Area
2.
WIP—Mixing | |||
---|---|---|---|
93,760 | fill in the blank df8cd7f2dfa7064_1 | ||
21,930 |
WIP—Encapsulating | |||
---|---|---|---|
fill in the blank df8cd7f2dfa7064_2 | fill in the blank df8cd7f2dfa7064_3 | ||
80,240 | |||
19,380 |
WIP—Bottling | |||
---|---|---|---|
fill in the blank df8cd7f2dfa7064_4 | fill in the blank df8cd7f2dfa7064_5 | ||
72,790 | |||
2,950 |
Finished Goods | |||
---|---|---|---|
fill in the blank df8cd7f2dfa7064_6 |
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps
- The plant manager of Integrity Products Co. gathered production statistics for October as follows:Beginning work in process : 8,000 units (all materials but only ½ converted)Materials cost- P7,968Conversion cost- P8,592Placed in Process, October: 40,000 unitsMaterials cost- P48,000Conversion cost- P72,720Completed and transferred to finished goods during October- 42,000 units Ending work in process- 6,000 units (all materials, 3/5 incomplete)Using FIFO method, determine the total cost of completed units.arrow_forwardPlease Help me with these problems! Show all work and label all numbers. Morgan Company reported the following data for the operations of its Mixing Department for the month of July. Costs Units Material Conversion Beginning work in process 2,000 $4,660 $48,910 (100% complete with respect to material) (40% complete with respect to conversion) Started into production 15,000 $32,300 $360,000 Ending work in process (100% with respect to materials) (30% with respect to conversion) 1,600 Required: a)Calculate the equivalent units of production for materials and conversion costs. b)Determine the cost per equivalent unit for materials and conversion costs. c)Determine the cost of units transferred out of the Mixing Department during the period. d)Determine the cost of ending work in process inventory in the Mixing Department.arrow_forwardHearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process—Filling on April 1 and debits to the account during April were as follows:Bal., 800 units, 30% completed:Direct materials (800 × $4.30) $ 3,440Conversion (800 × 30% × $1.75) 420 $ 3,860From Cooking Department, 7,800 units $34,320Direct labor 8,562Factory overhead 6,387During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed.Charges to Work in Process—Filling for May were as follows:From…arrow_forward
- Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 31,450 3,900 Units 470,050 263, 250 3,000 39,500 39,000 3,500 $ 35,350 733,300 $768,650 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places.arrow_forwardSohar Company had the following department data: Physical Units Work in process, July 1 30,000 Completed and transferred out 135,000 Work in process, July 31 45,000 Materials are added at the beginning of the process. What is the total number of equivalent units for materials in July? Select one: a. 45,000. b. 150,000. c. 210,000. d. None of the answers are correct e. 135,000. Clear my choicearrow_forwardPlease don't give image formatarrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education