Question

1. HoneyButter Company The HoneyButter Company makes flavored butter in 1 pound containers. At the beginning of March, the firm's Mixing Department already had 10.000 pounds of butter in production. During the month, the firm started 100,000 pounds, and completed 95,000 pounds and transferred them to the Packaging Department. All direct materials are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The Weighted Average method of process costing is used by HoneyButter. Beginning work in process was 25% complete as to conversion costs, while ending work in process was 20% complete as to conversion costs. Other information about costs to date follow: Beginning inventory: Direct materials costs $ 1.800 Conversion costs $7.200 Manufacturing costs added during the March accounting period Direct materials costs $154,400- Conversion costs $90.800

Answer 1

Date , Weighted Average Profet Method nanin! Flow of productos Physical or conversión WIP begenining 10000 10000 - Stented To account for 100000 110000 Units completed 95000 95000 95000 e bansfered. WIP encling 15000 15000 Accounted on 110000 110000 98000 KOOOO Kadooo.. 3000 Cost Total TWIP beginning 9000 Cost added 245200 Total cost 254200 Dinded by EU. EU cost 2.42 o og 1800 154400 156200 110000 $1.42 Conversion 7200 90600 98000 авто $ 1 $ 1 Assegamentos Completed $229900 WIP $24300 Il cost accounted 6954200 | hle, $134900 $21300 $ 156200 95000 $3000 $98000

Bei WIP Ale .$9000 By Finished goody $229900 $ 154400 $90800 By bal eld $24300 со Toteil $254200 $254200 - Goody Rinished $229900 WIP