Complete the cost of production report for Department B for the month of April using the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Complete the cost of production report for Department B for the month of April using the following information: March 31 inventory in Department B consists of 4000 units that are fully complete as to materials and 75% complete as to conversion. The units have accumulated costs of $6250. The following costs were added in April: Direct Materials $52,500; Direct Labor $47,500; Factory Overhead $14,510 Units for April: Beginning WIP 4000 units Started this period 70000 units Ending WIP 3000 units Ending WIP is 30% complete as to conversion Cost of Production Report - Department B For the Month Ended April 30 Units charged to production: Inventory in process, April 1 Received from materials storeroom Total units accounted for by Department B Units to be assigned costs: Inventory in process, April 1 Started and completed in April Transferred to Department C in April Inventory in process, April 30 Total units to be assigned costs Costs per equivalent unit: Unit Information Total costs for April in Department B Total equivalent units Cost per equivalent unit Costs charged to production: Cost Information Inventory in process, April 1 Costs incurred in April Total costs accounted for by Department B Costs allocated to completed and partially completed units: Inventory in process, April 1 To complete inventory in process, April 1 Cost of completed April 1 work in process Started and completed in April Transferred to Department C Inventory in process, April 30 Total costs assigned by Department B Whole Units Direct Materials Equivalent Units Direct Materials Direct Materials Conversion Conversion Conversion Total Complete the cost of production report for Department B for the month of April using the following information: March 31 inventory in Department B consists of 4000 units that are fully complete as to materials and 75% complete as to conversion. The units have accumulated costs of $6250. The following costs were added in April: Direct Materials $52,500; Direct Labor $47,500; Factory Overhead $14,510 Units for April: Beginning WIP 4000 units Started this period 70000 units Ending WIP 3000 units Ending WIP is 30% complete as to conversion Cost of Production Report - Department B For the Month Ended April 30 Units charged to production: Inventory in process, April 1 Received from materials storeroom Total units accounted for by Department B Units to be assigned costs: Inventory in process, April 1 Started and completed in April Transferred to Department C in April Inventory in process, April 30 Total units to be assigned costs Costs per equivalent unit: Unit Information Total costs for April in Department B Total equivalent units Cost per equivalent unit Costs charged to production: Cost Information Inventory in process, April 1 Costs incurred in April Total costs accounted for by Department B Costs allocated to completed and partially completed units: Inventory in process, April 1 To complete inventory in process, April 1 Cost of completed April 1 work in process Started and completed in April Transferred to Department C Inventory in process, April 30 Total costs assigned by Department B Whole Units Direct Materials Equivalent Units Direct Materials Direct Materials Conversion Conversion Conversion Total
Expert Answer:
Answer rating: 100% (QA)
Cost of Production Report Department B For the Month Ended April 30 Unit Information Units charged to production Inventory in process April 1 4000 uni... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Hubs Sprockets Direct Labor-Hours per Unit Annual Production 0.50 29,000 units 0.10 57,000 units Additional Information about the company follows: a. Hubs require $27 in direct materials per unit,...
-
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock...
-
Tables & More, a table manufacturer, has two departments, Assembly and Finishing. The Assembly Department has 4,000 tables in process at the beginning of May and 2,000 at the end of May. The...
-
The wheelbarrow and its contents have a center of mass at G. If F = 100 N and the resultant moment produced by force F and the weight about the axle at A is zero, determine the mass of the...
-
Under normal conditions, the electric field at the surface of the Earth points downward, into the ground. What is the sign of the electric charge on the ground?
-
Determine the SCRM challenges in your organization given its business and culture and the concerns that John cited during your meeting. Evaluate the various approaches to developing secure code in a...
-
Round 5.67849 to three decimal digits.
-
The following transactions of Denver Pharmacies occurred during 2011 and 2012: Requirement 1. Journalize the transactions in Denvers general journal. Explanations are notrequired. 2011 Purchased...
-
Ayuba is a Portfolio manager with Wealthy Friends LLC Jakarta. He is evaluating the expected performance of two sub-portfolios, Misang and Fijuan for possible inclusion in a rebalanced portfolio. He...
-
Based on Figure, Joe, one of your systems analysis team members, made the following entry for the data dictionary used by Marilyns Tours: DATA ELEMENT = TOURIST* * * * PAYMENT ALIAS = TOURIST PAY...
-
Who are organizational stakeholders? Employees Government Customers All of the above 10 points QUESTION 8 Corporate Social Responsibility encourages organizations to consider the interests of society...
-
Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 3 1 , the accounting records for the most popular item in inventory showed the following:...
-
44. Calculate the MRR (Material Removal Rate) and HP (Horse Power) for a .750 diameter drill with a 200 SFPM at .006 IPR (Inches Per Revolution). MRR = HP=
-
Solve by graphing: x+y=5 [2x+y=8
-
a. Briefly describe how the following data types are represented in Java using a combinations of bits.(As an example, a double precision floating point number is represented using sixty four bits,...
-
This self-assessment consists of 12 questions. For each question, type your brief answer in the space provided. After answering all 12 questions, compare what you wrote with the correct answer along...
-
Scenario: Carrier sells air conditioning units to distributors. Ahead of the upcoming summer, demand probability is 40,000 units (25%), 55,000 units (35%), 70,000 units (25%), and 80,000 units (15%)....
-
Bobbie Singh provides writing services for small businesses. He blogs for companies that need professionally written content. His business records at November 15, 2023, are shown below: During the...
-
Consider the six investments listed in the problem P7-7. Data from P7-7. Consider the following six investments: a. Atlantic Company buys 5,000 common shares of a publicly traded company that has 200...
-
Janes Bookkeeping Services Inc.s policy is to report all cash inflows from interest and dividends in the investing section and cash outflows arising from interest and dividends in the financing...
-
MINID Property Corp. (MINID) is a publicly held real estate company in Canada, specializing in retail real estate property. The company took advantage of the economic downturn and purchased several...
-
Why is the accounting different for nonconvertible bonds with detachable stock purchase warrants and nonconvertible bonds with nondetachable stock purchase warrants?
-
Deflation Ltd, which had experienced trading difficulties, decided to reorganise its finances. On 31 December 2005 a final trial balance extracted from the books showed the following position:...
-
On 31 March 2002, the following was the balance sheet of Planting Trees Ltd. The following scheme of capital reduction was sanctioned by the Court and agreed by the shareholders: (a) Preference...
Study smarter with the SolutionInn App