Question

18 D G H I E Name 4 А B С Weighted Average Costing Process Costing Wanda Company produces its finished product in two processing departments--Mixing and Finishing. The following information is available for the month of March: Mixing Department: The beginning work-in-process inventory was $43,630 ($31,680 direct materials and $11,950 conversion costs) and consisted of 2,200 units. During March, an additional 17,100 units were started into production. A total of 15,800 units were completed and transferred out to the Finishing Department. The ending work-in-process inventory consisted of 3,500 units which were 40% complete as to conversion costs. The following costs were incurred during March: direct materials $244,310, direct labor $150,000; and factory overhead $157,970. Direct materials are added at the beginning of the process in the Mixing Department and conversion costs are incurred evenly throughout the production process. 1 2 3 4 s 6 7 8 9 0 -2 23 24 25 26 27 18 19 Finishing Department: The beginning work in process inventory was $136,270 (S105.770 transferred-in costs and $30,500 conversion costs) and consisted of 3,100 units. During March, a total of 16,300 units were completed and transferred out to Finished Goods Inventory. The ending work in process inventory consisted of 2,600 units which were 60% complete as to conversion costs, The following costs were incurred during March: direct materials S247,760; direct labor $200,000; and factory overhead costs $205,284. Direct materials are added at the end of the process in the Finishing Department and conversion costs are incurred evenly throughout the production process. 30 2 3 REQUIRED: A. Prepare a production report for March for the Mixing Department B. Give the general journal entry to record the transfer of the completed units from the Mixing Department to the Finishing Department for March Account Titles DR OR 5 16 Checkpoint

Answer 1

Production Report of Anushing defantment. -Begining wil Material 44,250 Conversion cost 12.960 Begining w.lip 57,210 Cost TIE from mixing dept. (logo0 x 33.50) 3,65,150 Direct Matrial 143,000 Conversion - Cost 399,240 964,560 DU Journal Entries - Finishing -Process Alc To Direct Material To Direct labow To Manufacturs. Overhead to finishen wie finishing . co Finished goods inventay Alchem. Dr. 939,400 To w.lip finishing dift. 939,400 ICS Scanned with CamScatrier

1 u 365,150 Finishing-lefantment (logwunit 33:59) cost allocated to L0412 Direct Matural (900x12.50) Conversion Cost (900x80/=720121) Total cost of w.l.p 1,250 120 کر 391,520 By Journal Entis -Mixing procees Alc To Direct Matrial To Direct labour To Manufacturing Overhead 374,390 132,620 140,000 Oli 770 41 365.iso Wol.P Finishing department for To w.lip mixing elpausmes. 36 SUO 600 Statement Showing pooduction crefest for Finishing defautmerd particular -Output Matrial Ceswension cart unit . ย unit 100.7 Begining Wolf 1001 600 600 unit. Steinted.x.completed the postro) (11,000-600 10,400 100.1. 10,400 100.4 10,400 Closing w.l.P 100.42 404 Cott 11.500 111200 ne ose equivalent unit CamScanner 200 500

Ay production_cre pour for maich for Mixing lifestment.. Particular Material output Conversion cost Unit Unit 100 100 1200 1.200 1200 Begining w.l.p е und Started & Completed (10,900 - 1200 unit) Ending Welp 100% 100 / 9700 9 700 9 00 9700 goo 100/ 80 ) 720 11,800 11,620 Equivalent unit of production pooduction ozefost for Mixing effort trend. Begining w.lip Direct Material → 14,880 Conversion cost 2,2570 -Begining w.lip 171130 Direct Matrial 1132,620 Conversion Cost 241, 77 Production Cost → 391.520 Total Cost Statement Showing equivalent cost pewnie unit Best Direct Matuial 11,800 147.500 Conversion Cost 11, 620 244,020 Cs To tal cost per cost per equivalent unit cast Perunt 12.50 21.00 33-50