Sandhill Company manufactures hockey pucks and soccer balls, For both products, materials are added at the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sandhill Company manufactures hockey pucks and soccer balls, For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Sandhill uses the FIFO method to calculate equivalent units of production. Production and cost data for the Assembly Department for August are as follows: Production Data-Hockey Pucks Work in process inventory units, August 1 Units started into production Work in process inventory units. August 31 Cost Data-Hockey Pucks Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Units 800 2,000 900 $1,100 2,400 1,100 1,476 200 2,360 Percent Complete as to Conversion Costs 70% 30% 90% Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Work in process inventory units, August 31 Cost Data-Soccer Balls Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead (a) 1,476 200 2,360 200 $480 3,776 990 2,460 Your answer has been saved. See score details after the due date. 90% 60% Prepare a production cost report for the month of August for the hockey pucks only. (Round unit costs to 3 decimal places, e.g. 15.251 and other answers to the nearest whole dollar, e.g. 5,275.) Quantities to be accounted for Work in process inventory, August 1 Started into production Total units to be accounted for accounted for Completed and transferred out Work in process inventory, August 1 SANDHILL COMPANY Production Cost Report-Hockey pucks Physical Units Equivalent Units of Production Materials Conversion Co accounted for Completed and transferred out Work in process inventory, August 1 Started and completed Work in process inventory, August 31 Total units costs Costs in August Equivalent units of production Unit costs Reconciliation Schedule to ho accounted for Reconciliation Schedule. to be accounted for Work in process inventory, August 1 Added into production Total costs to be accouned for accounted for Completed and transferred out Work in process inventory, August 1 Conversion costs to complete beginning inventory Started and completed in process inventory, August 31 Materials Sandhill Company manufactures hockey pucks and soccer balls, For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Sandhill uses the FIFO method to calculate equivalent units of production. Production and cost data for the Assembly Department for August are as follows: Production Data-Hockey Pucks Work in process inventory units, August 1 Units started into production Work in process inventory units. August 31 Cost Data-Hockey Pucks Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Units 800 2,000 900 $1,100 2,400 1,100 1,476 200 2,360 Percent Complete as to Conversion Costs 70% 30% 90% Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Work in process inventory units, August 31 Cost Data-Soccer Balls Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead (a) 1,476 200 2,360 200 $480 3,776 990 2,460 Your answer has been saved. See score details after the due date. 90% 60% Prepare a production cost report for the month of August for the hockey pucks only. (Round unit costs to 3 decimal places, e.g. 15.251 and other answers to the nearest whole dollar, e.g. 5,275.) Quantities to be accounted for Work in process inventory, August 1 Started into production Total units to be accounted for accounted for Completed and transferred out Work in process inventory, August 1 SANDHILL COMPANY Production Cost Report-Hockey pucks Physical Units Equivalent Units of Production Materials Conversion Co accounted for Completed and transferred out Work in process inventory, August 1 Started and completed Work in process inventory, August 31 Total units costs Costs in August Equivalent units of production Unit costs Reconciliation Schedule to ho accounted for Reconciliation Schedule. to be accounted for Work in process inventory, August 1 Added into production Total costs to be accouned for accounted for Completed and transferred out Work in process inventory, August 1 Conversion costs to complete beginning inventory Started and completed in process inventory, August 31 Materials
Expert Answer:
Answer rating: 100% (QA)
ANSWER I STATEMENT OF EQUIVALENT PRODUCTION HOCKEY PUCKS INPUT INPUT OUTPUT OUTPUT EQUIVALENT PRODUC... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
Posted Date:
Students also viewed these accounting questions
-
Maloney Company manufactures hockey pucks and soccer balls. For both products, materials are added at the beginning of the production process and conversion costs are incurred uniformly. Maloney uses...
-
Jessica Company manufactures hockey pucks and soccer balls. For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Jessica uses...
-
Question 1 Robert Mallory has prepared the following list of statements about process cost accounting. Identify each statement as true or false. 1. 8. 9 10. Process cost systems are used to apply...
-
Adam Hoover bought 72 shares of General Oil Co. stock at a par value of $85 per share. The stock paid annual dividends of 7 1/2%. How much did Adam receive in dividends this year? Commissions 0. Mrs....
-
Porter has a capital balance of $420,000 after adjusting assets to fair market value. Billings contributes $200,000 to receive a 30% interest in a new partnership with Porter. Determine the amount...
-
The equation V = e 2 cr 2 e 2 Zr 1 is used in spectroscopy. Solve for r.
-
Use the information about the Complexico mine of Example 14.8. Chapter 14, but assume that gold prices and interest rates are governed by the models of Example 19.3. Find the value of the Complexico...
-
Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Mar. 2. Issued Invoice No. 512 to Santorini Co., $905. 4. Received cash...
-
Please solve this question with clear steps.And.Check the answers or make sure that they are right. Image transcription text 4 QUESTION 4 (40 Points) Using the finite element method, determine the...
-
What Happens When You Dont Deliver on Your Promises Web: www.clearly.ca Facebook: Clearly Canadian If a new product or service seems like the perfect option to solve a problem or capitalize on an...
-
2. Define f: [0,2] R by 3 f(x) = 1 0 (a) Prove that f is integrable on [0, 2] (b) Find the value of f f(x) dr. if x = 1 if x = 2 otherwise
-
1. The nurse completes an admission database and explains that the plan of care and discharge goals will be developed with the patients input. The patient asks, How is this different from what the...
-
4. A patient admitted to the hospital for surgery tells the nurse, I do not feel comfortable leaving my children with my parents. Which action would the nurse take next? a. Reassure the patient that...
-
7. Which statement describes the purpose of the assessment phase of the nursing process? a. To teach interventions that relieve health problems b. To use patient data to evaluate patient care...
-
10. A nurse is caring for a group of patients on the medical-surgical unit with the help of one float registered nurse (RN), one assistive personnel (AP), and one licensed practical/vocational nurse...
-
13. The nurse is caring for an older adult patient who needs continued nursing care and physical therapy to improve mobility after surgery to repair a fractured hip. The nurse would help to arrange...
-
The portfolio manager of a $1billion superannuation fund currently invested $490 million in the equity market index and $490 million in the short term government bond, the remaining is cash kept in...
-
Explain the operation of the dividends received deduction.
-
If a companys revenues are $125,000 and its expenses are $113,000, in which financial statement columns of the worksheet will the net income of $12,000 appear? When expenses exceed revenues, in which...
-
On May 10, Chen Corporation issues 2,000 shares of $6 par value common stock for cash at $13 per share. Journalize the issuance of the stock.
-
The net income for Lodi Ltd. for 2020 was 250,000. For 2020, depreciation on plant assets was 65,000, and the company incurred a gain on disposal of plant assets of 12,000. Compute net cash provided...
-
You are to open the books of F. Polk, a trader, via the journal to record the assets and liabilities, and are then to record the dialy transactions for the month of May. A trial balance is to be...
-
Show the journal entries necessary to record the following items: 2017 Apr 1 Bought office furniture on credit from Durham Brothers Ltd 1,400. 4 We take goods costing 270 out of the business...
-
You are to show the journal entries necessary to record the following items which occured in 2016: (a) May 1 Bought a motor bike on credit from Lakeside Garage for 5,500. (b) May 3 A debt of 347...
Study smarter with the SolutionInn App