Answered: Sherri Springs is a producer of…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 2E: Precision Inc. manufactures wristwatches on an assembly line. The work in process inventory as of...

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Sherri Springs is a producer of flavored water. Below is the data for its production in April.

Description	Amount
Subcategory,Work in process inventory, April 1, has 3,060 (units' equal cases):
Direct Materials	12,140
Direct labor	6,010
Manufacturing overhead (1,440 machine-hours at $6 per machine-hours)	8,640Single line
	Single line26,790Double line

Subcategory,
Units started in April	9,080

Subcategory,Costs incurred in April:
Direct Materials	37,000
Direct labor	54,340
Manufacturing overhead applied (13,610 machine-hours)	81,660

The ending inventory consisted of 4,430 units. These units were: 100% complete as to materials, 70% complete as to conversion.

Complete a production report using the weighted average method.

(Round your answers to two decimal places when needed and use rounded answers for all future calculations).

Sherri Springs

	Equivalent Units
UNITS	Whole Units	Transferred In	Direct Material	Conversion Costs
Units to account for:
Beginning work-in-process
Started in production
Total units to account for
Units accounted for:
Completed and transferred out		n/a
Ending work-in-process		n/a
Total units accounted for		n/a

Sherri Springs

COSTS	Transferred In	Direct Materials	Conversion Costs	Total Costs
Costs to account for:
Beginning work-in-process
Costs added during period
Total costs to account for
Divided by: Total EUP
Cost per equivalent unit
Costs accounted for:
Completed and transferred out
Ending work-in-process
Total costs accounted for

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