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toSave OD 2 Home Insert 3 X cut В сору 3 format Painter Clipboard Page Layout Liberation Sans BIUD Excel Template Assignment cho3 (1) · Excel S earch Formulas Data Review View HelpDYMO Label QuickBooks 12 AA EE Wrap Text A E I Menge & Center % 9 'General -3 Insert Delete Conditional Formatas Cell Formatting Table Styles Styles Fort Number C D A B CD3 - Excel Tutorial GHIDKL CURRENT DESIGNS Building a kayak using the composite method is a very labor-intensive process. In the Fabrication Department, the kayaks go through 5 several steps as employees carefully place layers of Kevlar® in a mold and then use resin to fuse together the layers. The excess resin is 6 removed with a vacuum process, and the upper shell and lower shell are removed from the molds and assembled. The seat, hatch, and other 7 components are added in the Finishing Department 8 At the beginning of April, Current Designs had 30 kayaks in process in the Fabrication Department. Rick Thrune, the production manager, 9 estimated that about 80% of the material costs had been added to these boats, which were about 50% complete with respect to the conversion 10 costs. The costs of this inventory had been calculated to be $8.400 in materials and $9,000 in conversion costs. 11) During April, 72 boats were started. At the end of the month, the 35 kayaks in the ending Inventory had 20% of the materials and 40% of 12 the conversion costs added to them. 13 A review of the accounting records for April showed that materials with a cost of $17.500 had been requisitioned by the Fabrication 14 Department and that the conversion costs for the month were $39,600. 16 Instructions 17 Complete a production report for April 2017 for the Fabrication Department using the weighted average method. 16 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". CURRENT DESIGNS Fabrication Department Production Cost Report For the Month ended April 30, 2017 Equivalent Units Physical Conversion Units Materials Costs 27 Quantities 1037 13-11CDS - Type here to search

Answer 1

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Note A Goods finished in Apr Inventory in process Apr 1 Add: Units started during Apr Less: Inventory in process Apr 3 Goods finished in Apr 30.00 72.00 25.00 77.00 Note B Started and completed in Apr Goods finished in Apr Less: Opening work in process Started and completed in Apr 77.00 30.00 47.00

Current Designs
For the Month Ended Apr 30		Equivalent Units
Unit information	Physical Units	Materials	Conversion
Units charged to production:
Inventory in process Apr 1	30.00
Units started during Apr	72.00
Total units accounted for	102.00
Units to be assigned costs:
Inventory in process Apr 1	30.00	30.00	30.00
Started and completed in Apr	37.00	37.00	37.00	See note B
Goods transferred out in Apr	67.00	67.00	67.00
Inventory in process, Apr 28	35.00	7.00	14.00	This is closing units multiplied by % of completion
Total units to be assigned costs:	102.00	74.00	81.00
Cost Information				Total
Costs per equivalent unit
Costs of opening inventory		8,400.00	9,000.00
Total costs for Apr		17,500.00	39,600.00
Total costs incurred		25,900.00	48,600.00	74,500.00
Total equivalent units		74.00	81.00
Cost per equivalent unit		350.00	600.00	950.00
Costs to be accounted for
Work in Process April 1		8,400.00	9,000.00
Started into production		17,500.00	39,600.00
Total Costs		25,900.00	48,600.00	74,500.00
Cost Reconciliation Schedule
Costs accounted for
Transferred to next Department in Apr		23,450.00	40,200.00	63,650.00
Work in process, Apr 30
Materials		2,450.00
Conversion		8,400.00		10,850.00
Total Costs				74,500.00

Note A
Goods finished in Apr
Inventory in process Apr 1	30.00
Add: Units started during Apr	72.00
Less: Inventory in process Apr 30	35.00
Goods finished in Apr	67.00
Note B
Started and completed in Apr
Goods finished in Apr	67.00
Less: Opening work in process	30.00
Started and completed in Apr	37.00

Current Designs
For the Month Ended Apr 30		Equivalent Units
Unit information	Physical Units	Materials	Conversion
Units charged to production:
Inventory in process Apr 1	30.00
Units started during Apr	72.00
Total units accounted for	102.00
Units to be assigned costs:
Inventory in process Apr 1	30.00	30.00	30.00
Started and completed in Apr	47.00	47.00	47.00	See note B
Goods transferred out in Apr	77.00	77.00	77.00
Inventory in process, Apr 28	25.00	5.00	10.00	This is closing units multiplied by % of completion
Total units to be assigned costs:	102.00	82.00	87.00
Cost Information				Total
Costs per equivalent unit
Costs of opening inventory		8,400.00	9,000.00
Total costs for Apr		42,500.00	60,000.00
Total costs incurred		50,900.00	69,000.00	119,900.00
Total equivalent units		82.00	87.00
Cost per equivalent unit		620.732	793.103	1,413.835
Costs to be accounted for
Work in Process April 1		8,400.00	9,000.00
Started into production		42,500.00	60,000.00
Total Costs		50,900.00	69,000.00	119,900.00
Cost Reconciliation Schedule
Costs accounted for
Transferred to next Department in Apr		47,796.36	61,068.93	108,865.00
Work in process, Apr 30
Materials		3,103.66
Conversion		7,931.03		11,035.00
Total Costs				119,900.00