Question: Assignment Instructions: Fullerton Aggregate processes raw shale into lightweight aggregate material. Fullerton has only one production department. This department heat treats shale and injects


Assignment Instructions: Fullerton Aggregate processes raw shale into lightweight aggregate material. Fullerton has only one production department. This department heat treats shale and injects it with fly ash as it passes through rotating kilns. The shale both expands and hardens in the process, and is ideally suited to road construction. Fullerton uses the weighted-average process costing method to account for production. The necessary information is on the "problem" worksheet. On the "worksheet" tab, prepare the Production Cost Report and then complete the prepare the journal entries for the Month of September only. The production cost report is already in template format. You only need to input data in the cells with bold outlining. These are the only cells that will be graded on that report. If you change anything on the productipon cost report other than the bold cells, it is likley you are doing someting incorrectly. The journal entries are formatted for you also. The memo entry is completed. Submission Instructions: You will make the changes to the file that you have downloaded to your device. When you have completed the project, please re-name your file "FirstNameLastName-End_of_Week4_Project" and upload to the appropriate area in Blackboard (for example: SusanSmith-End_of_Week4_Project). Submit your completed document using the file attach tool in the assignment area. Due Date: Saturday of Week 4 by 11:59 pm Points: 20 Points; Each input on the report is 1 point. Each input on the journal entries(accounts name and amount) are worth 0.50 points Beginning work in process on September 1 consisted of 101,000 tons that were 55% complete with respect to raw materials and 20% complete with respect to conversion costs. Ending work in process on September 30 consisted of 47,000 tons that were 75% complete with respect to raw materials and 15% complete with respect to conversion costs. 1,115,000 tons of material were put into production. There is no spoilage or loss of tonnage in the production process. Beginning work in process carried costs of: direct materials: $126,000, direct labor: $52,000, and factory overhead: $103,000. Additional costs incurred during the month were: direct materials: $1,520,000, direct labor: $990,000, and factory overhead: $572,000). (a) Prepare a cost of production report for September. (b) Prepare journal entries to reflect 1) the introduction of additional costs during September, and 2) the transfer of completed units to finished goods.
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