Question

a's four- Pr 1. H production cost report for the Preparation Department for January a ch direct material added at different point in the production process n equivalent units of production computation) be journal entry to record the cost of the shots completed and berred Process Coming 209 requires its own Prepare the jo seat to the Compression Departme dof che Post the jou journal entries to the Work-in-process inventory Preparation Taccount Varch: What is the ending balanse caring production cost report, second department with beginning 25-324 Pro WIP journal entries Claudia Carpet ma plying Carpet manufactures broadloom carpet in seven pre spinning, dying soling, tufting, latexing, and shearing. In the Dyeing Department direct due) are added at the beginning of the process, Conversion costs are evenly throughout the process. Information for November 2016 follows: Learning Objectives materials (dye) incurred evenly the 1. Com per EUP OM 52 UNITS eginning Work-in-Process Inventory ansferred in from Spinning Department during November Completed during November ding Work-in-Process Inventory (80% complete for 55 rolls 560 rolls 490 rolls conversion work) COSTS 125 rolls aminning Work-in-Process Inventory (transferred in costs. $3.500, materials costs. $1,750, conversion costs, 55,420) Transferred in from Spinning Department Materials costs added during November Conversion costs added during November (manufacturing wages, 58,120, manufacturing overhead allocated, 545,460) $ 10,670 18,025 13,010 53,580 Requirements 1. Prepare the November production cost report for Claudia's Dyeing Department. 2. Journalize all transactions affecting Claudia's Dyeing Department during November, including the entries that have already been posted. Learni P5-33A Preparing production cost report, second department with beginning WIP; decision making Sea Bound uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized steel, assembling the lift, and testing the completed lift. The lifts are transferred to Finished Goods Inventory before shipment to marinas across the country. 1. Tota

Answer 1

Working Notes: Claudia Carpet Dyeing Department Equivalent Unit Computation (Weighted-Average) Month Ended November 30 Flow of Equivalent Units Physical Transferred Direct Conversion Flow of Production Units In Materials Costs Completed and transferred out 490 490 490 490 Ending work in process, November 30 125a Total physical units accounted for 615 Equivalent units 615 615 590 125 125 1006 a It is given in the question that materials were introduced at the beginning of the month. We assume that direct materials and transferred in were 100% completed in the dyeing department. 6 80% of the conversion work on ending work in process inventory was done in November: 125 x 80% = 100

Requirement 1: Claudia Carpet Dyeing Department Production Cost Report (Weighted-Average Method) Month Ended November 30 Transferred In Direct Materials $ 3,500 18,025 $21,525 615 35 $ 1,750 13,010 $14,760 • 615 24 Conversion Costs $ 5,420 53,580 $59,000 590 S 100 Total $10,670 84.615 $95.285 S $ Beginning work in process, November 1 Costs added during November Total cost to account for Divide by equivalent units Cost per equivalent unit Assignment of total costs: Units completed and transferred out during November Ending work in process, November 30: Transferred in costs Direct materials Conversion costs Total ending work in process, November 30 Total cost accounted for 490 x ($35 + $24 + $100) $77.910 125 x $35 4,375 125 x $24 3,000 100 x $100 10,000 17,375 $95.285

Requireement2: Joumal Entry POST. DATE REF. DEBIT CREDIT 18,025 ACCOUNTS Work in Process Inventory—Dyeing Work in Process Inventory—Spinning [To record transfer of wip from spinning department] 18.025 66,590 Work in Process Inventory-Dyeing Materials Inventory Manufacturing Wages Manufacturing Overhead [to record costs incurred during the month] 13,010 8,120 45,460 77910 Work in Process Inventory-Plying Work in Process Inventory—Dyeing [To record transfer of completed units to plying department] 77,910