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 Packaging in March |
4,400 |
gallons |
|
Ending Work-in-Process Inventory (80% of the way |
3,500 |
gallons |
|
through the fermenting process) |
|||
Costs |
|||
Beginning Work-in-Process Inventory: |
|||
Direct materials |
$1,264 |
||
Direct labor |
160 |
1. |
Compute the Fermenting Department's equivalent units of production for direct materials and for conversion costs. |
2. |
Compute the total costs of the units (gallons) |
a. completed and transferred out to the Packaging Department. b. in the Fermenting Department ending Work-in-Process Inventory. |
Requirement 1. Compute the Fermenting Department's equivalent units of production for direct materials and for conversion costs.
Complete the partial production cost report below for the Fermenting Department, showing the equivalent units of production for direct materials and for conversion costs.
Johnson Winery |
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Production Cost Report - Fermenting Department (Partial) |
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Month Ended March 31 |
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Equivalent Units |
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Physical |
Direct |
Conversion |
||
UNITS |
Units |
Materials |
Costs |
|
Units to account for: |
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Started in production |
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Total units to account for |
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Units accounted for: |
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Total units accounted for |
Choose from any list or enter any number in the input fields and then click Check Answer.
Answer
Johnson Winery |
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Production Cost Report - Fermenting Department (Partial) |
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Month Ended March 31 |
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Equivalent Units |
||||
Physical |
Direct |
Conversion |
||
UNITS |
Units |
Materials |
Costs |
|
Units to account for: |
||||
Beginning WIP Inventory |
400 |
|||
Started in production |
7,500 |
|||
Total units to account for |
7,900 |
|||
Units accounted for: |
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Units completed & transferred out |
4,400 |
4,400 |
4,400 |
|
Unit in ending WIP inventory |
3,500 |
3,500 |
2,800 |
|
Total units accounted for |
7,900 |
7,900 |
7,200 |
--Working
Johnson Winery |
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Production Cost Report - Fermenting Department (Partial) |
||||
Month Ended March 31 |
||||
Equivalent Units |
||||
Physical |
Direct |
Conversion |
||
UNITS |
Units |
Materials |
Costs |
|
Units to account for: |
||||
Beginning WIP Inventory |
400 |
|||
Started in production |
7500 |
|||
Total units to account for |
=400+7500 |
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Units accounted for: |
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Units completed & transferred out |
4400 |
=4400*100% |
=4400*100% |
|
Unit in ending WIP inventory |
3500 |
=3500*100% |
=3500*80% |
|
Total units accounted for |
E18-23 (similar to) Johnson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging....
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...
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compute the total costs of the units completed and transferred out
to the packaging department
Read the requirements. Month Ended March 31 Physical Units Equivalent Units Direct Conversion Materials Costs UNITS Units to account for: Beginning work-in-process Started in production 600 9,300 Total units to account for 9.900 Units accounted for: Completed and transferred out Ending work-in-process 4,800 5.100 4.800 5,100 4,800 4,080 Total units accounted for 9,900 9,900 8,880 Requirement 2. Compute the total costs of the units (gallons)...
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