Units 3,200 8,000 Percent Completed Pulping 100x 100x Conversion Work in process inventory, March 1 lork...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Units 3,200 8,000 Percent Completed Pulping 100x 100x Conversion Work in process inventory, March 1 lork in process inventory, March 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, Harch 1 Units transferred to the next production department Pulping cost added during Harch Conversion cost added during Harch Bek 75% $ 1,584 $ 1,024 152,e00 $ 81,616 $ 55,856 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 fibers produces a set amount of dried paper that is passed on to the Finishing Department. Required: 1. Compute the Drying Department's equivalent units of production for pulping and conversion in March. 2. Compute the Drying Department's cost per equivalent unit for pulping and conversion in March. 3. Compute the Drying Department's cost of ending work in process inventory for pulping, conversion, and in total for March. 4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping, conversion, and in total in March, 5. Prepare a cost reconciliation report for the Drying Department for March. Units 3,200 8,000 Percent Completed Pulping 100x 100x Conversion Work in process inventory, March 1 lork in process inventory, March 31 Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, Harch 1 Units transferred to the next production department Pulping cost added during Harch Conversion cost added during Harch Bek 75% $ 1,584 $ 1,024 152,e00 $ 81,616 $ 55,856 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 fibers produces a set amount of dried paper that is passed on to the Finishing Department. Required: 1. Compute the Drying Department's equivalent units of production for pulping and conversion in March. 2. Compute the Drying Department's cost per equivalent unit for pulping and conversion in March. 3. Compute the Drying Department's cost of ending work in process inventory for pulping, conversion, and in total for March. 4. Compute the Drying Department's cost of units transferred out to the Finishing Department for pulping, conversion, and in total in March, 5. Prepare a cost reconciliation report for the Drying Department for March.
Expert Answer:
Answer rating: 100% (QA)
1 Equivalent Units of Production Using Weighted Average Method Units Materials Conversion Units Tran... View the full answer
Related Book For
Fundamentals of Financial Management
ISBN: 9780273713630
13th Revised edition
Authors: James van Horne, John Wachowicz
Posted Date:
Students also viewed these accounting questions
-
On July 1, Tin Hau Companys Work in Process Inventory account showed a beginning balance of $9,000. The Materials Inventory account showed a beginning balance of $40,000. Production activity for July...
-
than E (d) E 17.A shunt generator running at 1000 r.p.m. has generated e.m.f. as 200 V. If the speed increases to 1200 r.p.m., the generated e.m.f. will be nearly (a) 150 V (b) 175 V (c) 240 V...
-
On June 30, New Haven Companys work in Process inventory account showed a beginning balance of $29,400. The Materials Inventory account showed a beginning balance of $240,000. Production activity for...
-
Give the approximate temperature at which creep deformation becomes an important consideration for each of the following metals: nickel, copper, iron, tungsten, lead, and aluminum.
-
Refer to the Bulletin of Marine Science (April 2010) study of teams of fishermen fishing for the red spiny lobster in Baja California Sur, Mexico, Exercise. Recall that simple linear regression was...
-
In Born together-Reared apart: the Landmark Minnesota twin study (2012), Nancy Segal discusses the efforts of research psychologists at the University of Minnesota to understand similarities and...
-
Ron Chambers arrives at work early on Friday morning. His anxiety has been growing throughout his final week of training with Mid-Town Office Products. Today Ron is going to work with his sales...
-
Was the confiscation of all cigar manufacturers by the Cuban government in the early 1960s and expropriation or a nationalization? Was this confiscation commercial activity in which a private...
-
A block placed under the head of the claw hammer as shown greatly facilitates the extraction of the nail. If a 47-lb pull on the handle is required to pull the nail, calculate the tension T in the...
-
While pulling out of her driveway, Bethany becomes distracted by a bee and strikes Melanie, who is riding past on a bicycle. Bethany suffers serious injury as a result of the accident while Melanie...
-
Due to increasing pressures to expand globally, Pinehurst Corp. acquired a 100% interest in a Loch Lomond Corp., a foreign company, on January 1, 2019. Pinehurst paid 12,000,000 Euros and Loch...
-
1. LookGood, Inc. has just announced the bad news that its earnings have dropped by 30 percent. In fact, its investors had anticipated a decrease of 20 percent. As a result, LookGood's stock price:...
-
You arrive at your first client meeting with Jaba's Smoothie Hut. Jaba's owner, Kim, has asked you to install a Wi-Fi network for his customers. Kim has told you that the store needs the following:...
-
Magnolia, Inc., manufactures bedding sets. The budgeted production is for 28,400 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is...
-
2. A person has completed a pre-license course of 63 classroom hours, 50 minutes each. At the end of the course she scored an 85% on the test and she has filed the appropriate fees and paperwork to...
-
The charter of a corporation provides for the issuance of 125,000 shares of common stock. Assume that 55,000 shares were originally issued and 13,400 were subsequently reacquired. What is the number...
-
is an analytical tool that allows us to plot combinations of price and volume that lead to the same level of profitability for the firm. O Demand Curve O Value-Oriented Pricing Thermometer O Conjoint...
-
You are planning to purchase your first home five years from today. The required down payment will be $50,000. You currently have $20,000. but you plan to contribute $500 each quarter to a special...
-
Tijuana Brass Instruments Company treats dividends as a residual decision. It expects to generate $2 million in net earnings after taxes in the coming year. The company has an all-equity capital...
-
What is a dividend reinvestment plan (DRIP) and how might it help shareholders?
-
Some people have suggested combining the payback period (PBP) method with present value analysis to calculate a "discounted" payback period (DPBP). Instead of using cumulative inflows, cumulative...
-
Which part of the brain controls posture, balance, and fine movements? (a) brainstem (b) cerebellum (c) cerebrum (d) thalamus
-
Multiple tissues combine to make a(n)____, a structure in the body that has a specific function.
-
Which part of the brain is responsible for reasoning, language, and the control of voluntary movement? (a) brainstem (b) cerebellum (c) cerebrum (d) thalamus
Study smarter with the SolutionInn App