Question

Problem 3-3 Crown Point Tiles is a specialized producer of ceramic tiles. Its production process involves highly skilled workers and top-quality ceramic crafters. Work in Process is relatively large because each tile is in process for up to 3 weeks because of art, mold work, and drying time. October began with 4,000 units (a unit is one ceramic tile) in process, on average 80 percent complete as to direct materials and 30 percent complete as to conversion costs; 5,740 units were started during the month, and ending Work in Process inventory consisted of 7,650 units that were on average 90 percent complete as to direct materials and 60 percent complete as to conversion costs. Cost Information Direct material Direct labor Manufacturing overhead Beginning Work in Process $177,100 151,000 48,900 Costs Added in October $415,250 764,160 91,380 Prepare a production cost report for the month of October. Crown Point Tiles, Inc-October Unit Reconciliation Units to account for Units accounted for Cost per Equivalent Unit Calculation Material Labor Overhead Total Cost Beginning work in process Cost incurred during October Total Units Units completed Equivalent units Ending work in process Total Cost per equivalent unit

Answer 1

Want to be accounted for Opening wiP Material 80%, conversion) 30% completed 4000 Cast Reconciliation Cotal cost $ 468, 160 2020/2/14 01:16 Started into production Siryo Transfer to Next Debenthat ૪૨૨૫ 2090 closing wip - Material (6885866) - Lubow (useo X 137) - owshed (4590 x 21) Total Cost account for Total butt to be all ourted for 9740 $ 454,410 $628,830 $ 96,390 $1,647,790 Unit Allocation ounted Transfer to Next DefH Unit 2090 Dir. Dir matural Labow 2090 2090 2090 - Journal Entry of value of Inventory Transfeed to finished Closing wIP (matrial 90%, conversam 60h) 7,650 Total Unt Accounted for 9,740 6,885 8,975 4,590 6,680 4,500 6,680 finished Goods haventory Work in Prouss inventory $468,160 $ 468, 160 Cost Per Equivelut Unit Total Cost Matural Labout ouched opening wil $377,000 $177,100 $131,00 $98,9 100 Cast added in Delft $ 1,270,790 $415,250 $769,160 $91,380 $1,647,790 8592,350 $915,160 $ 140, poore Equivalent wait 8,975 6,680 6,680. Cost Per Equivalt on't $66 $137 821 e whole wet (66 +(37+ 1) = 224 corrimPALILLO REDMI NOTE 5 PRO MI DUAL CAMERA