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1 5 Given Data: 2 Humpty Dumpty Inc. manufactures Yummy potato chips. 3 Production of the potato chips occurs in three departments: Cleaning, Cooking and Packaging. 4 Consider the Cooking department, where the "seasoning" materials are added, more specifically: 6 Seasoning is added when the conversion costs are 85% complete 7 & The accounting records of the Humpty Dumpty factory provided the following information for jalapeno 9 flavoured potato chips in its Cooking department during a weekly period (week 9): Transferred in Seasoning Conversion Units costs costs costs 12 Beginning work in process, week 9 125,000 $ 70,000 $ $ 8,750 Degree (percentage) of completion 0% 35% Transferred In units during week 9 ? Costs added during week 9 $ 105,000 $ 14,000 $ 52,850 10 11 13 14 15 16 17 Completed units during week 9 200,400 18 19 Ending work in process units, week 128,000 20 Degree (percentage) of completion 88% 21 $ 22 Other possible % complete for costs! 0% 10% 20% 30% 40% 23 50% 60% 70% 80% 90% 24 100% 25 (2) 26 units sold during week 9 140,000 27 selling price per unit 1.99 28 29 REQUIRED: 30 (1) 31 Prepare a Production Report for the Cooking department week 9 using the weighted-average method and prepare an 32 resulting journal entry. 33 (2) 34 Based on your calculations, would the company achieve a gross profit on this product of 75% in week 9? 35 Show your gross profit calculation 36 Required Part (1) Quantity Schedule Total Equivalent Units of Production Transferred to Seasoning Conversion % Equivalent Units of Production Total Transferred In Seasoning Conversion Cost per E.U.P Total Costs Accounted for: Transferred Out WIP - ending Transferred In Seasoning Conversion Journal Entry Debit Credit Part (2) Would the company achieve a 75% gross profit in week 9? Show calculations