On March 1, the Mixing Department had 550 rolls of paper in process. During March, the...

      

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On March 1, the Mixing Department had 550 rolls of paper in process. During March, the Mixing Department completed the mixing process for those 550 rolls and also started and completed the mixing process for an additional 4,150 rolls of paper. The department started but did not finish the mixing process for an additional 500 rolls, which were 20% complete with respect to both direct materials and conversion work at the end of March. Direct materials and conversion costs are incurred evenly throughout the mixing process. Direct Direct Manufacturing Total Materials Labor Overhead Allocated Costs Beginning inventory, Mar. 1 $ 280 365 $ 180 $ 825 Costs added during March 5,720 4,125 3,250 13,095 $ 6,000 $ 4,490 $ 3,430 $ 13,920 Total costs Physical Direct Conversion UNITS Units Materials Costs Units to account for: Beginning work-in-process Started in production 550 4650 5100 Total units to account for Units accounted for: Ending work-in-process 500 4700 Completed and transferred out 5100 Total units accounted for Direct Conversion Total COSTS Materials Costs Costs Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Requirement 2. Journalize all transactions affecting the company's mixing process during March. Assume labor costs are accrued and not yet paid. Begin with a summary journal entry to record the assignment of direct materials, direct labor, and the allocation of manufacturing overhead to the Mixing De entry. Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Work-in-Process Inventory-Mixing Raw Materials Inventory Mar. 31 13095 5720 4125 Wages Payable Manufacturing Overhead 3250 Prepare the journal entry to record the cost of the units completed and transferred out of the Mixing Department. Prepare the journal entry to record the cost of the units completed and transferred out of the Mixing Department. Date Accounts Debit Credit Work-in-Process Inventory-Cooking Work-in-Process Inventory-Mixing Mar. 31 On March 1, the Mixing Department had 550 rolls of paper in process. During March, the Mixing Department completed the mixing process for those 550 rolls and also started and completed the mixing process for an additional 4,150 rolls of paper. The department started but did not finish the mixing process for an additional 500 rolls, which were 20% complete with respect to both direct materials and conversion work at the end of March. Direct materials and conversion costs are incurred evenly throughout the mixing process. Direct Direct Manufacturing Total Materials Labor Overhead Allocated Costs Beginning inventory, Mar. 1 $ 280 365 $ 180 $ 825 Costs added during March 5,720 4,125 3,250 13,095 $ 6,000 $ 4,490 $ 3,430 $ 13,920 Total costs Physical Direct Conversion UNITS Units Materials Costs Units to account for: Beginning work-in-process Started in production 550 4650 5100 Total units to account for Units accounted for: Ending work-in-process 500 4700 Completed and transferred out 5100 Total units accounted for Direct Conversion Total COSTS Materials Costs Costs Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Requirement 2. Journalize all transactions affecting the company's mixing process during March. Assume labor costs are accrued and not yet paid. Begin with a summary journal entry to record the assignment of direct materials, direct labor, and the allocation of manufacturing overhead to the Mixing De entry. Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Work-in-Process Inventory-Mixing Raw Materials Inventory Mar. 31 13095 5720 4125 Wages Payable Manufacturing Overhead 3250 Prepare the journal entry to record the cost of the units completed and transferred out of the Mixing Department. Prepare the journal entry to record the cost of the units completed and transferred out of the Mixing Department. Date Accounts Debit Credit Work-in-Process Inventory-Cooking Work-in-Process Inventory-Mixing Mar. 31

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Answer Summary of Physical units Units in beginning WIP inventory 550 Units started during month 415... View the full answer