Question

!!!!!!!!!!!!!!! PLEASE ANSWER ALL PARTS!!!!!!!!!!!!!!!!Scribners Corporation produces fine papers in three production departments-Pulping, Drying, and Finishing. In the Pulping DepRequired: 1. Compute the Drying Departments equivalent units of production for pulping and conversion in March. 2. Compute t

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Answer #1

1) Equivalent unit

Whole Unit % material EUP-Material % conversion EUP-Conversion
Unit transferred out 163900 100% 163900 100% 163900
Ending WIP 4500 100% 4500 80% 3600
Total 168400 168400 167500

2) Cost per equivalent unit

Material Conversion
Beginning WIP 1815 1254
Cost added 95857 69096
Total Cost 97672 70350
Equivalent unit 168400 167500
Cost per equivalent unit 0.58 0.42

3) Cost of ending WIP

Material Conversion Total
Cost of Ending WIP 4500*.58 = 2610 3600*.42 = 1512 4122

4) Cost of unit transferred out

Material Conversion Total
Cost of unit transferred out 163900*.58 = 95062 68838 163900

5) Cost reconciliation

Cost to be accounted for
Beginning WIP 3069
Cost added 164953
Total Cost to be accounted for 168022
Cost accounted as
Cost of unit transferred out 163900
Cost of ending WIP 4122
Total Cost accounted as 168022
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