Insert Draw Page Layout Formulas Data Review View Tell me Share Con A V % Conditional Formatting Formatas Table 12 Cell Styles O Font Alignment Number Cells Editing Analyze Data Sensitivity D E F G H I 3 K L 2. Make the appropriate entries in the Work in Process T-accounts of the Mixing and Finishing Departments: WIP-Mixing WIP-Finishing F. Why is computing cost of goods sold in process costing problematic? Module 5 Module Bect destination and press ENTER or choose Paste 144% 20 A MacBook Air See 11 12 WU 2 Weighted Average Process Costing nsci 3 4 Clesi Company produces its finished product in two processing departments--Mixing 5 and Finishing. The following information is available for the month of June: 6 Mixing Department: 7 The beginning work-in-process inventory was $45,200 ($12,500 direct materials and 8 $32,700 conversion costs) and consisted of 2,700 units. ghte 9 cess. During June, an additional 9,800 units were started into production. A total of 10 10,200 units were completed and transferred out to the Finishing Department. The ending work-in-process inventory consisted of 2,300 units which were 40% complete as to conversion costs. 13 The following costs were incurred during June: direct materials $110,000; direct 14 labor $160,000, and factory overhead $56,388. lear 1 15 Direct materials are added at the beginning of the process in the Mixing Department 750,0 16 and conversion costs are incurred evenly throughout the production process. 17 18 Finishing Department: 19 The beginning work in process inventory was $189,930 (S127 730 transferred-in costs 20 and $62,200 conversion costs) and consisted of 4,100 units. 21 During June, a total of 12,900 units were completed and transferred out to Finished 22 Goods Inventory. 23 The ending work in process inventory consisted of 1,400 units which were 60% 24 complete as to conversion costs 25 The following costs were incurred during June: direct materials $168.990; direct 26 labor $80,000; and factory overhead costs $111,990. 27 Direct materials are added at the end of the process in the Finishing Department and 28 conversion costs are incurred evenly throughout the production process. 29 PRODUCTION REPORT-FINISHING DEFT JUNE SCHEDULE OF EQUIVALENT UNITS 1. Beg WIP Units Transferred-In Total Units to Account For 6,100 10,200 14.300 T-IN 12,900 1.400 12.900 1.400 14.300 12,900 840 DM 12.900 1,400 Units Completed End WIP Total Units Accounted For Equivalent Units of Preduction 14,300 13,740 14,300 11. COMPUTATION OF PER UNIT COSTS 304 BEG CURRENT TOTAL EQUIV. UNIT WIP + COSTS COSTS UNITS COST T-IN 127,730 328.440 456,170 14,300 31 5 6.200 191,990 198,190 13,740 14:42 5 DM 168.990 165.990 14.300 11 R2 7 Totals 133,930 689.420 $23.350 58.14 48 111. ASSIGNMENT OF COSTS TO PRODUCTION 00 201 Cest of Goods Manufactured: -02 (12900 x 58.14) 750006 203 Ending Work in Process: 105 T-IN (1400x319) 44,660 106 CC (840 x 144) 12.112 107 DM (1400 x 11.82) 16.548 108 Total Ending Work in Process 73,320 109 Total Cost Assigned 823326 110 111 D. Give the general joumal entry to record the transfer of the completed units from the Finishing 112 Department to finished goods for June Account Titles DR CR 114 Completed Units 750.006 115 Finished goods 750.006 116 117 L Make the appropriate tries in the Work in Process account of the Mixing and 115 Finishing Departments 119 WIP Sising WIR Finishing 120 121 Module 5 Module 6 + Colort deetinstinn nnrace ENTER Orchnee Daeto 10.12