Sutherland Sports, which produces basketballs, has two departments: cutting and stitching. Each department has one direct-cost...

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Sutherland Sports, which produces basketballs, has two departments: cutting and stitching. Each department has one direct-cost category (direct materials) and one indirect-cost category (conversion costs). This problem focuses on the stitching department. 1 (Click the icon to view Sutherland Sports' process costing information.) i Data Table A 1 2 Beginning work in process Degree of completion, beginning work in process 3 4 Transferred in during March 2017 5 Completed and transferred out during March 2017 6 Ending work in process, March 31 7 Degree of completion, ending work in process 8 Total costs added during March Print B Physical Units (basketballs) Hon Ofen SHOOK Finofon 50,000 $ 70,000 100,000 20,000 Done с D E Transferred-In Direct Conversion Costs Materials Costs 0 $ 24,000 $ 60,000 $ 100% 100% 210,000 $ 0% The following is a summary of the March 2017 operations of the stitching department. (Click the icon to view the information.) (Click the icon to view the total costs assigned under the weighted-average method.) Read the requirements. 0% 40,000 $ X 50% 25% 60,000 erred out) and to units in ending work in process. Weighted-average assignment of costs Assignment of costs: Completed and transferred out Ending work in process Total costs to account for Production Costs $ Total $ Transferred-In Costs 345,000 $ 49,000 394,000 $ Print Done Direct Conversion Materials Costs 225,000 $ 45,000 270,000 $ - 40,000 $ 0 40,000 $ X 80,000 4,000 84,000 ? 1. 2. Summarize total stitching department costs for March 2017, and assign these costs to units completed (and transferred out) and to units in ending work in process. Prepare journal entries for March transfers from the cutting department to the stitching department and from the stitching department to Finished Goods. 3. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the stitching department under the weighted-average method and the FIFO method. Requirement 1. Summarize total stitching department costs for March 2017, and assign these costs to units completed (and transferred out) and to units in ending work in process. Begin by completing the following table to summarize the physical and equivalent units. (For amounts with a zero balance, make sure to enter "0" in the appropriate cell.) Equivalent Units Work in process, beginning Transferred-in during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for Equivalent units of work done in current period Physical Units 50,000 70,000 120000 50,000 010 20,000 Transferred-In Costs 0 Direct Materials Conversion Costs Sutherland Sports, which produces basketballs, has two departments: cutting and stitching. Each department has one direct-cost category (direct materials) and one indirect-cost category (conversion costs). This problem focuses on the stitching department. 1 (Click the icon to view Sutherland Sports' process costing information.) i Data Table A 1 2 Beginning work in process Degree of completion, beginning work in process 3 4 Transferred in during March 2017 5 Completed and transferred out during March 2017 6 Ending work in process, March 31 7 Degree of completion, ending work in process 8 Total costs added during March Print B Physical Units (basketballs) Hon Ofen SHOOK Finofon 50,000 $ 70,000 100,000 20,000 Done с D E Transferred-In Direct Conversion Costs Materials Costs 0 $ 24,000 $ 60,000 $ 100% 100% 210,000 $ 0% The following is a summary of the March 2017 operations of the stitching department. (Click the icon to view the information.) (Click the icon to view the total costs assigned under the weighted-average method.) Read the requirements. 0% 40,000 $ X 50% 25% 60,000 erred out) and to units in ending work in process. Weighted-average assignment of costs Assignment of costs: Completed and transferred out Ending work in process Total costs to account for Production Costs $ Total $ Transferred-In Costs 345,000 $ 49,000 394,000 $ Print Done Direct Conversion Materials Costs 225,000 $ 45,000 270,000 $ - 40,000 $ 0 40,000 $ X 80,000 4,000 84,000 ? 1. 2. Summarize total stitching department costs for March 2017, and assign these costs to units completed (and transferred out) and to units in ending work in process. Prepare journal entries for March transfers from the cutting department to the stitching department and from the stitching department to Finished Goods. 3. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the stitching department under the weighted-average method and the FIFO method. Requirement 1. Summarize total stitching department costs for March 2017, and assign these costs to units completed (and transferred out) and to units in ending work in process. Begin by completing the following table to summarize the physical and equivalent units. (For amounts with a zero balance, make sure to enter "0" in the appropriate cell.) Equivalent Units Work in process, beginning Transferred-in during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for Equivalent units of work done in current period Physical Units 50,000 70,000 120000 50,000 010 20,000 Transferred-In Costs 0 Direct Materials Conversion Costs

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C D E F 3 Requirement 1 4 Equivalent Units Flow of production Physical units Equivalent Units 7 Tran... View the full answer