Started 815834 PROBLEM 2 (22%) Big Bernard Corporation was recently formed to produce chips through two...

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Started 815834 PROBLEM 2 (22%) Big Bernard Corporation was recently formed to produce chips through two departments: first the carving department and then the assembly department. . In the carving department, the direct materials are added at the start of the production process while conversion costs are added uniformly throughout the production process. The degree of End WIP is 50%. In the assembly department, the direct material and conversion costs are added evenly during the process of assembling. The degree of completion of End WIP is 80% June is Big Bemard's first month of operations, and additional information about the two departments in June is as follows: Beginning work-in-process units Comp Units started this period Units transferred out this period Ending work-in-process units Direct Material Conversion Costs Carving Assembly ? ? 475,000 ? 22 50,000 25,000 $950,000 $840,000 $4,725,000 $3,150,000 1. Calculate the equivalent units of direct material in the carving department. 2. o beg 475 started 23 Ferd 500,000 Calculate the equivalent units of conversion costs in the carving department. 4725000/500,000='9.4% 3. Calculate the manufacturing costs per unit in the carving department. = $1.90 per unit 150.000/300000 4. Calculate the cost of ending inventory in the carving department. 25K x 1.90 47,500 A WIP- assembly WIP 5. Record the cost of completed and transferred from the carving department to the assembly department. Journal Entry Credit Debit 5000 425006 Carving 6. What is the degree of completion of the transferred-in costs in the assembly department 507 7. Calculate the equivalent units of the transferred-in in the assembly department. 750 started 20 and 8. Calculate the equivalent units of direct material in the assembly department. 870,000 1.73 9. Calculate the equivalent units of conversion costs in the assembly department. 315000/470000 +6.70 10. Calculate the manufacturing costs per unit in the assembly department. 2390,000 170,000 = $8,49 11. Record the finished goods in the assembly department in June. Journal Entry FG WIP- assembly 10 Debit Credit 400 000 Started 815834 PROBLEM 2 (22%) Big Bernard Corporation was recently formed to produce chips through two departments: first the carving department and then the assembly department. . In the carving department, the direct materials are added at the start of the production process while conversion costs are added uniformly throughout the production process. The degree of End WIP is 50%. In the assembly department, the direct material and conversion costs are added evenly during the process of assembling. The degree of completion of End WIP is 80% June is Big Bemard's first month of operations, and additional information about the two departments in June is as follows: Beginning work-in-process units Comp Units started this period Units transferred out this period Ending work-in-process units Direct Material Conversion Costs Carving Assembly ? ? 475,000 ? 22 50,000 25,000 $950,000 $840,000 $4,725,000 $3,150,000 1. Calculate the equivalent units of direct material in the carving department. 2. o beg 475 started 23 Ferd 500,000 Calculate the equivalent units of conversion costs in the carving department. 4725000/500,000='9.4% 3. Calculate the manufacturing costs per unit in the carving department. = $1.90 per unit 150.000/300000 4. Calculate the cost of ending inventory in the carving department. 25K x 1.90 47,500 A WIP- assembly WIP 5. Record the cost of completed and transferred from the carving department to the assembly department. Journal Entry Credit Debit 5000 425006 Carving 6. What is the degree of completion of the transferred-in costs in the assembly department 507 7. Calculate the equivalent units of the transferred-in in the assembly department. 750 started 20 and 8. Calculate the equivalent units of direct material in the assembly department. 870,000 1.73 9. Calculate the equivalent units of conversion costs in the assembly department. 315000/470000 +6.70 10. Calculate the manufacturing costs per unit in the assembly department. 2390,000 170,000 = $8,49 11. Record the finished goods in the assembly department in June. Journal Entry FG WIP- assembly 10 Debit Credit 400 000