Question

Sutherland Sports, which produces basketballs, has two departments: cutting and stitching. Each department has one direct-cost category (direct materials) and one indirect-cost category (conversion costs). This problem focuses on the stitching department. (Click the icon to view Sutherland Sports' process costing information.) The following is a summary of the March 2017 operations of the stitching department (Click the icon to view the information.) (Click the icon to view the total costs assigned under the weighted average method.) Read the requirements erred out) and to units in ending work in process. Data Table Weighted average assignment of costs А Total Transferred-In Direct Conversion B с D E Physical Units Transferred-In Direct Conversion (basketballs) Costs Materials Costs 50,000 $ 60,000 $ 0$ 24,000 Production Costs Costs Materials Costs Assignment of costs: Completed and transferred out 100% 0% 50% $ 40,000 $ 345,000 $ 49,000 225,000 $ 45,000 80,000 4,000 70,000 Ending work in process $ Beginning work in process Degree of completion, beginning work in process 4 Transferred in during March 2017 5 Completed and transferred out during March 2017 6 Ending work in process, March 31 7 Degree of completion, ending work in process 8 Total costs added during March 100,000 394,000 $ 270,000 $ 40,000 $ 84,000 Total costs to account for 20,000 100% 0% 25% Print Done $ 210,000 40,000 $ 60,000 Print Done ?

the following questions cannot be seen until the above parts finish

Answer 1

Answer to Requirement 1:-

There are 3 methods to calculate equivalent number of units :-

1) FIFO Method, 2) LIFO Method And 3) Weighted Average Method.

.

As per the observation of the format of requirement ,FIFO method is suggested as Completed units for Beginning work in progress units and started & completed units is separately required.

Statement Showing Physical units and equivalent Units (FIFO Method)

Particulars Transferred in cost Direct Material Conversion Costs Physical % Units Completion 50000 Equivalent Units % Completion Equivalent Units % Completion Equivalent Units Work in Process, Beginning Transferred in During Current period To Account For (Inputs) 70000 120000 Completed and Transferred out During current Period:- From Beginning Work in process Started and completed 0 50000 50000 0% 100% 100% 100% 50000 50000 50% 100% 25000 50000 50000 100% 20000 0% 0 25% 5000 Work in Process, Ending To Account For (Outputs) Equivalent Units of Work done in current Period 20000 120000 70000 100000 80000