Horngren's Accounting (12th Edition)
12th Edition
ISBN: 9780134486444
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 20, Problem P20.40BPGB
Preparing a production cost report, beginning WIP, no costs transferred in;
Learning Objectives
2,3,5
1. Cost per
EUP forCC
$1.40
Smith Paper Co. produces the paper used by wallpaper manufacturers. Smith's four-stage process includes mixing, cooking, rolling, and cutting. On March 1, the Mixing Department had 400 rolls in process. During March, the Mixing Department completed the mixing process for those 400 rolls and also started and completed the mixing process for an additional 4,100 rolls of paper. The department started but did not finish the mixing process for an additional 500 rolls, which were 20% complete with respect to both direct materials and conversion work at the end of March. Direct materials and conversion costs are incurred evenly throughout the mixing process. The Mixing Department compiled the following data for March:
| DirectMaterials | DirectLabor | Manufacturing |
TotalCosts | |
| Beginning inventory, Mar. 1 | $ 475 | $ 275 | $300 | $1,050 |
| Costs added during March | 5,045 | 2,900 | 2,965 | 10,910 |
| Total costs | $ 5,520 | $ 3,175 | $ 3,265 | $ 11,960 |
Requirements
1. Prepare a production cost report for the Mixing Department for March. The company uses the weighted-average method.
2. Journalize all transactions affecting the company's mixing process during March. Assume labor costs are accrued and not yet paid.
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S18-13 Preparing journal entry
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The Mixing Department's production cost report for May shows $12,500 in total
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Learning Objectives 2, 3, 4
1. Total cost per EUP $2.26
3. WIP Balance $1,836
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S5-13 Find unit cost and gross profit on a final product (Learning Objective 5)
Counter Co. produces Formica countertops in two sequential production departments:
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Transferred-in
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Direct Materials Conversion Costs
$0.40
$1.66
Cost per equivalent unit:
During October, 165,000 square feet were completed and transferred out of the
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sold for $13.00 per square foot.
1. What was the cost per square foot of the finished product?
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Chapter 20 Solutions
Horngren's Accounting (12th Edition)
Ch. 20 - Prob. 1QCCh. 20 - Prob. 2QCCh. 20 - Prob. 3QCCh. 20 - Prob. 4QCCh. 20 - Prob. 5QCCh. 20 - Prob. 6QCCh. 20 - Prob. 7QCCh. 20 - Prob. 8QCCh. 20 - Prob. 9QCCh. 20 - Prob. 10QC
Ch. 20 - 11A.Which statement is accurate concerning the...Ch. 20 - Prob. 1RQCh. 20 - Prob. 2RQCh. 20 - Prob. 3RQCh. 20 - Prob. 4RQCh. 20 - Prob. 5RQCh. 20 - Prob. 6RQCh. 20 - Prob. 7RQCh. 20 - Prob. 8RQCh. 20 - Prob. 9RQCh. 20 - Prob. 10RQCh. 20 - Prob. 11RQCh. 20 - Prob. 12RQCh. 20 - Prob. 13RQCh. 20 - 14. What is the weighted-average method for...Ch. 20 - Prob. 15RQCh. 20 - Prob. 16RQCh. 20 - Prob. 17RQCh. 20 - Prob. 18RQCh. 20 - Prob. 19RQCh. 20 - Prob. 20RQCh. 20 - Prob. 21RQCh. 20 - Prob. 22ARQCh. 20 - Describe the three groups of units that must be...Ch. 20 - Prob. 24ARQCh. 20 - Prob. S20.1SECh. 20 - S20-2 Tracking the flow of costs
Learning...Ch. 20 - Prob. S20.3SECh. 20 - S20-4 Calculating EUP
Learning Objective 2
Cadwell...Ch. 20 - Prob. S20.5SECh. 20 - Prob. S20.6SECh. 20 - Prob. S20.7SECh. 20 - Prob. S20.8SECh. 20 - Prob. S20.9SECh. 20 - Prob. S20.10SECh. 20 - Prob. S20.11SECh. 20 - Prob. S20.12SECh. 20 - Prob. S20.13SECh. 20 - Prob. S20.14SECh. 20 - Prob. S20A.15SECh. 20 - Prob. S20A.16SECh. 20 - E20-17 Comparing job order costing versus process...Ch. 20 - Prob. E20.18ECh. 20 - Tracking the flow of costs Learning Objectives 1,5...Ch. 20 - Prob. E20.20ECh. 20 - Prob. E20.21ECh. 20 - Prob. E20.22ECh. 20 - Computing EUP, assigning costs, with beginning...Ch. 20 - Prob. E20.24ECh. 20 - Prob. E20.25ECh. 20 - Prob. E20.26ECh. 20 - Prob. E20.27ECh. 20 - Prob. E20.28ECh. 20 - E20-29 Preparing journal entries—outputs
Learning...Ch. 20 - Preparing journal entries—manufacturing overhead...Ch. 20 - Prob. E20A.31ECh. 20 - Prob. P20.32APGACh. 20 - Prob. P20.33APGACh. 20 - Prob. P20.34APGACh. 20 - Prob. P20.35APGACh. 20 - Prob. P20.36APGACh. 20 - Prob. P20A.37APGACh. 20 - Prob. P20A.38APGACh. 20 - Prob. P20.39BPGBCh. 20 - Preparing a production cost report, beginning WIP,...Ch. 20 - Prob. P20.41BPGBCh. 20 - Prob. P20.42BPGBCh. 20 - Prob. P20.43BPGBCh. 20 - Prob. P20A.44BPGBCh. 20 - Prob. P20A.45BPGBCh. 20 - Prob. P20.46CTCh. 20 - Prob. 20.1TIATCCh. 20 - Prob. 20.1DCCh. 20 - Prob. 20.1EI
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