Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process
Fantastic news! We've Found the answer you've been seeking!
Question:
Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows.
| Units | Direct Materials | Conversion | |
|---|---|---|---|
| Percent Complete | Percent Complete | ||
| Beginning work in process inventory | 5,100 | 100% | 40% |
| Units started this period | 36,720 | ||
| Units completed and transferred out | 37,740 | ||
| Ending work in process inventory | 4,080 | 100% | 80% |
| Beginning work in process inventory | ||
|---|---|---|
| Direct materials | $ 33,660 | |
| Conversion | 377,298 | $ 410,958 |
| Costs added this period | ||
| Direct materials | 844,560 | |
| Conversion | 3,682,098 | 4,526,658 |
| Total costs to account for | $ 4,937,616 |
Required
- Prepare the Forming department’s production cost report for May using the weighted average method.
- Prepare the May 31 journal entry to transfer the cost of units from Forming to Assembly.
Expert Answer:
To prepare the Forming departments production cost report for May using the weighted average method follow these steps Step 1 Calculate equivalent uni... View the full answer
Related Book For 
Posted Date:
