LDR Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, 2014, the first department, Mixing, had no beginning inventory. During January, 40,000 fl. oz. of chemicals were started in production. Of these, 32,000 fl. oz. were completed and 8,000 fl. oz. remained in process. Management estimates that the in-process units are approximately 60% complete. In the Mixing Department, all direct materials are added at the beginning of the production process and all of its conversion costs (labor and overhead) are applied evenly throughout the process.
During January, the Mixing Department incurred $48,000 in direct materials costs and $150,000.00 in direct labor costs, and $61,600.00 in overhead costs. Using the attached Excel Costs of Production Report template, one generally following the textbook structure or the structure in the Costs of Production link, prepare a Costs of Production Report for the Mixing Department using the Weighted-Average Method.
Answer with working notes is given below
LDR Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing, Refining,...
Alchemy Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, the first department—Mixing—had no beginning inventory. During January, 44,000 fl. oz. of chemicals were started in production. Of these, 32,000 fl. oz. were completed and 12,000 fl. oz. remained in process. In the Mixing Department, all direct materials are added at the beginning of the production process, and conversion costs are applied evenly throughout the process. The weighted average...
Eco - Eliminator Manufacturing produces a chemical pesticide and uses process costing. There are three processing departments-Mixing, Refining, and Packaging. On January 1, the first department - Mixing—had no beginning inventory. During January, 42,000 fl. oz. of chemicals were started in production. Of these, 32,000 fl. oz. were completed, and 10,000 fl. oz. remained in process. In the Mixing Department, all direct materials are added at the beginning of the production process, and conversion costs are applied evenly throughout the...
Thomas Manufacturing produces a chemical pesticide and uses process costing. There are three processing departments-Mixing. Refining, and Packaging On January 1, the Refining Department had 2,000 gallons of partially processed product in production. During January, 36,000 gallons were transferred in from the Mosing Department, and 31,000 gations were completed and transferred out. At the end of the month, there were 7.000 gallons of partially processed product remaining in the Refining Department. See additional Detais below Refining Department, beginning balance at...
Thomas Manufacturing produces a chemical pesticide and uses process costing. There are three processing departmentslong dash—Mixing, Refining, and Packaging. On January 1, the Refining Department had 2,000 gallons of partially processed product in production. During January, 36,000 gallons were transferred in from the Mixing Department, and 31,000 gallons were completed and transferred out. At the end of the month, there were 7,000 gallons of partially processed product remaining in the Refining Department. See additional details below. Refining Department, beginning balance...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 103,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 135,960 100 % Costs added by...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 104,000 units made up of the following: Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 138,320 100 % Costs added by...
Reutter, Inc. makes a single product and uses the FIFO method of process costing. The company’s product goes through two processing departments – Etching and Wiring – which completes the process. This problem focuses on the Writing department which received the ‘etched’ products and then completes them by adding appropriate writing. In Wiring, the direct materials are placed into production when the process is 35% complete. Conversion costs are incurred evenly throughout the process. The relevant information for April is...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 75,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 192,000 100 % Costs added by...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 120,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 178,800 100 % Costs added by...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 75,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 192,000 100 % Costs added by...