Solution
Production cost report | |||
COSTS | Direct Material | Conversion costs | Total Costs |
Costs to be accounted for: | |||
Beginning Work in process cost | $ 390.00 | $ 410.00 | $ 800.00 |
Cost added during the month | $ 8,330.00 | $ 5,050.00 | $ 13,380.00 |
Total cost to account for | $ 8,720.00 | $ 5,460.00 | $ 14,180.00 |
Equivalent units | 8000 | 7800 | |
Cost per Equivalent unit | $ 1.09 | $ 0.70 |
Working
Statement of Equivalent Units(Weighted average) | |||||||
Material | Conversion cost | ||||||
Units | Complete % | Equivalent units | Complete % | Equivalent units | |||
Transferred out | 7,000 | 100% | 7,000 | 100% | 7,000 | ||
Ending WIP | 1,000 | 100% | 1,000 | 80% | 800 | ||
Total | 8,000 | Total | 8,000 | Total | 7,800 |
900 gallons 7,100 gallons 7,000 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred...
800 gallons 8,400 gallons 7,700 gallons 1,500 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs Beginning Work-in-Process Inventory: Direct materials Direct labor Manufacturing overhead allocated Costs added during March: Direct materials Direct labor $ 1,509 160 260 930 3,100 Manufacturing overhead allocated $ 12,641 Total costs added during March Jackson Winery in Pleasant Valley, New York, has two departments: Fermenting...
Smith Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging. Direct materials are added at beginning of the fermenting process (grapes) and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. The company uses the weighted-average method. Data from the month of March for the Fermenting Department are as follows: 3: (Click the icon to view the data from March.) Read the requirements. Month Ended March 31 Direct Conversion Total...
700 gallons 8,500 gallons 7,700 gallons 1,500 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs Beginning Work-in-Process Inventory: Direct materials Direct labor Manufacturing overhead allocated Costs added during March: Direct materials $ 2,140 200 190 9,360 Direct labor 1,340 Manufacturing overhead allocated 4,500 $ 15,200 Total costs added during March Total Costs 2,530 15,200 Johnson Winery Production Cost Report -...
Smithson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging. Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. The company uses the weighted average method. Data from the month of March for the Fermenting Department are as follows: (Click the icon to view the data from March.) Read the requirements. Requirement 1. Compute the Fermenting Department's...
Paulson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging. Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. The company uses the weighted average method. Data from the month of March for the Fermenting Department are as follows: (Click the icon to view the data from March.) Read the requirements. 0 Data Table Requirement 1. Compute...
E18-23 (similar to) Johnson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging. Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. The company uses the weighted-average method. Data from the month of March for the Fermenting Department are as follows: Gallons Beginning Work-in-Process Inventory 400 gallons Started in production 7,500 gallons Completed and transferred out to...
E18-23 (similar to) Johnson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging. Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. The company uses the weighted-average method. Data from the month of March for the Fermenting Department are as follows Gallons Beginning Work-in-Process Inventory 400 gallons Started in production 7,500 gallons Completed and transferred out to...
Wilson Winery Production Cost Report - Fermenting Department (Partial) Month Ended March 31 Direct Conversion Total Materials Costs Costs COSTS Costs to account for: Beginning work-in-process 1,328 $ 10,672 380 $ 8,044 1,708 18,716 Costs added during the period Total costs to account for 20,424 12,000 $ 10,000 8,424 $ 9,360 Divided by: Total equivalent units of production 1.20 $ 0.90 Cost per equivalent unit Costs accounted for: Completed and transferred out 14,280 8,160 $ 3,840 12,000 $ 6,120 $...
Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending Work-in-Process Inventory (30% of the way through the blending process) Costs O gallons 9,000 gallons 4,000 gallons 5,000 gallons Beginning Work-in-Process Inventory $ 0 Costs added during May: Direct materials 6,750 Direct labor 1,300 2,000 Manufacturing overhead allocated $ 10,050 Total costs added during May Paint by Number prepares and packages paint products. Paint by Number has two departments: Blending and Packaging. Direct materials...
Litres: Beginning work in process inventory 2,800 litres Started production 4,620 litres Completed and transferred out to Packaging in March 6,420 litres Ending work in process inventory (80% of the way through the fermenting process) 1,000 litres Costs: Beginning work in process inventory ($2,200 of direct materials and $1,462 of conversion cost) $3,662 Costs added during March: Direct materials 10,414 Direct labour 950 Manufacturing overhead 1,920 Total costs added during March $13,284 1. Fill in the time line for the...