Journal Entry | |||||
Particulars | Debit | Credit | |||
WIP Inventory - Painting | $ 36,000.00 | ||||
To WIP Inventory - Assembly | $ 36,000.00 |
Workings:
1) | Equivalent Units of Production (EUP) - Weighted Average Method | ||||||||
Units | % Mat. | EUP- Mat. | % Conv. | EUP- Conv. | |||||
Units completed and transferred out | 10000 | 100% | 10000 | 100% | 10000 | ||||
Units in ending inventory | 5500 | 80% | 4400 | 30% | 1650 | ||||
Equivalent units of production | 14400 | 11650 |
2) | Cost per Equivalent Unit of Production | |||||||
Materials | Conversion | |||||||
Beginning costs | $ 2,130.00 | $ 940.00 | ||||||
During the month costs | $ 20,910.00 | $ 22,360.00 | ||||||
Total cost | Costs | $ 23,040.00 | Costs | $ 23,300.00 | ||||
÷ | Equivalent units of production | EUP | 14400 | EUP | 11650 | |||
Cost per equivalent unit of production | $ 1.60 | $ 2.00 |
3) | Cost Assignment and Reconciliation | ||||||
Cost of units transferred out | EUP | Cost/ EUP | Total Cost | ||||
Direct Materials | 10000 | $ 1.60 | $ 16,000.00 | ||||
Conversion | 10000 | $ 2.00 | $ 20,000.00 | ||||
Total costs of units transferred out | (a) | $ 36,000.00 | |||||
Cost of ending work in process | EUP | Cost/ EUP | Total Cost | ||||
Direct Materials | 4400 | $ 1.60 | $ 7,040.00 | ||||
Conversion | 1650 | $ 2.00 | $ 3,300.00 | ||||
Total cost of ending work in process | (b) | $ 10,340.00 | |||||
Total costs accounted for | (a+b) | $ 46,340.00 |
Required information Use the following information for the Quick Study below. (The following information applies to...
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.] The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 12,500 units during November. The following production activity unit and cost information refers to the assembly department's November production activities. Percent of Percent of Direct Assembly Department Beginning work in process Materials Added Units Conversion 3,000 10,000 5,500 708 1008 308 Units transferred out 100% 30%...
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.) The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 12,500 units during November. The following production activity unit and cost information refers to the assembly department's November production activities. Percent of Direct Materials Added Percent of Assembly Department Units 3,000 10,000 5,500 Conversion Beginning work in process Units transferred out 708 30% 100 30% 100...
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.) The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,200 units during November. The following production activity unit and cost information refers to the assembly department's November production activities. Assembly Department Beginning work in process Units transferred out Ending work in process Units 2,500 9,500 3,200 Percent of Direct Materials Added 601 1001 858 Percent...
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.) The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 11,700 units during November. The following production activity unit and cost information refers to the assembly department's November production activities. Assembly Department Beginning work in process Units transferred out Ending work in process Units 2,000 9,000 4,700 Percent of Direct Materials Added 65% 100% 90% Percent...
Required Information Use the following information for the Quick Study below. [The following Information applies to the questions displayed below.) The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,700 units during November. The following production activity unit and cost Information refers to the assembly department's November production activities. Assembly Department Beginning work in process Units transferred out Ending work in process Units 3,000 10,eee 3,700 Percent of Direct Materials Added 70% 100% 90% Percent...
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.] The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 12,500 units during November. The following production activity unit and cost information refers to the assembly department's November production activities. Assembly Department Beginning work in process Units transferred out Ending work in process Units 3,000 10,000 5,500 Percent of Direct Materials Added 709 1008 808 Percent...
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.] The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,300 units during November. The following production activity unit and cost information refers to the assembly department’s November production activities. Assembly Department Units Percent of Direct Materials Added Percent of Conversion Beginning work in process 3,000 60 % 40 % Units transferred out 10,000 100 %...
Required information Use the following information for the Quick Study below. The following information applies to the questions displayed below.J The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,900 units during November. The following production activity unit and cost information refers to the assembly department's November production activities Percent of Direct Materials Added Percent of Conversion Assembly Department Beginning work in process Units transferred out Ending work in process Units 2, 500 9, 500...
Required information Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 11,300 units during November. The following production activity unit and cost information refers to the assembly department's November production activities. Assembly Department Beginning work in process Units transferred out Ending work in process Unita 3,000 10,000 4,300 Percent of Direct Materials 708 1008 809 Percent of Conversion...
Required information The following information applies to the questions displayed below.) The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,000 units during November. The following production activity unit and cost information refers to the assembly department's November production activities Assembly Department Beginning work in process Units transferred out Ending work in process Units 2.009 9,000 3,000 Percent of Direct Materials Added 6e 100% Percent of Conversion 40 100% 30% $1,581 (includes $996 for direct...