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Previous question pany has several processing departments. Costs to be accounted for in the Assembly Department for November 2025 totaled $2,290,566 as follows. Work in process, November 1 Materials Conversion costs $79,500 48,400 $127,900 Direct materials added during November 1,596,420 226,000 Direct labor incurred during November Manufacturing overhead assigned during November 340,246 $2,290,566 Production records show that 34,900 units were in beginning work in process 30% complete as to conversion costs, 663,400 units were started into production, and 25,600 units were in ending work in process 40% complete as to conversion costs. Materials are added at the beginning of each process, and conversion costs are incurred uniformly throughout the process. (a) Determine the equivalent units of production and the unit production costs for the Assembly Department. (Round unit costs to 2 decimal places, e.g. 2.25.) Equivalent Units Cost per unit +A Materials Conversion Costs +A (b). Determine the assignment of costs to goods completed and transferred out and to work in process for November. Costs accounted for: Transferred out Work in process, November 30 Materials Conversion costs Total costs LA +A (c) Prepare a production cost report for the Assembly Department for November 2025. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to O decimal places, e.g. 125.) Quantities Units to be accounted for Work in process, November 1 Started into production Total units SHERIDAN COMPANY Assembly Department Production Cost Report Physical Units Materials Equivalent Units Conversion Costs Units accounted for Completed and transferred out Work in process, November 30 Total units Costs Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, November 1 Started into production +A $ Materials $ Conversion Costs $ +A $ $ $ A Total Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Work in process, November 30 Materials Conversion costs Total costs $ $ $ $ Previous question pany has several processing departments. Costs to be accounted for in the Assembly Department for November 2025 totaled $2,290,566 as follows. Work in process, November 1 Materials Conversion costs $79,500 48,400 $127,900 Direct materials added during November 1,596,420 226,000 Direct labor incurred during November Manufacturing overhead assigned during November 340,246 $2,290,566 Production records show that 34,900 units were in beginning work in process 30% complete as to conversion costs, 663,400 units were started into production, and 25,600 units were in ending work in process 40% complete as to conversion costs. Materials are added at the beginning of each process, and conversion costs are incurred uniformly throughout the process. (a) Determine the equivalent units of production and the unit production costs for the Assembly Department. (Round unit costs to 2 decimal places, e.g. 2.25.) Equivalent Units Cost per unit +A Materials Conversion Costs +A (b). Determine the assignment of costs to goods completed and transferred out and to work in process for November. Costs accounted for: Transferred out Work in process, November 30 Materials Conversion costs Total costs LA +A (c) Prepare a production cost report for the Assembly Department for November 2025. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to O decimal places, e.g. 125.) Quantities Units to be accounted for Work in process, November 1 Started into production Total units SHERIDAN COMPANY Assembly Department Production Cost Report Physical Units Materials Equivalent Units Conversion Costs Units accounted for Completed and transferred out Work in process, November 30 Total units Costs Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, November 1 Started into production +A $ Materials $ Conversion Costs $ +A $ $ $ A Total Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Work in process, November 30 Materials Conversion costs Total costs $ $ $ $
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Managerial Accounting Tools For Business Decision Making
ISBN: 9781119709589
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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