Question

Direct Materials Conversion Costs Total Costs Cost per Unit COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Costs added during the period Divided by: EUP this period Cost per equivalent unit Costs accounted for: Beginning work-in-process Costs to complete beginning WIP Total costs for beginning WIP Started and completed Transferred to Mixing Department Ending work-in-process Total costs accounted for Requirement 2. Joumalize all transactions affecting the Mixing Department during March, including the entries that have already been posted. Assume labor costs are accrued and not yet paid Begin with a summary journal entry to record the assignment of direct materials and direct labor costs, and the location of manufacturing overhead to the Mixing Department (Prepare a single compou then credits. Exclude coplanations from journal entries.) Date Accounts Debit Credit Mar 31 Work in Process Inventory Modng Raw Materials Inventory Wages Payable Manufacturing Overhead Prepare the journal entry to record the cost of the units (crayons) completed and transferred out of the Mixing Department Date Accounts Debit Credit Mar. 31 Work-in-Process Inventory-Molding Work-in-Process Inventory-Mixing

Answer 1

Cost of Production Report (FIFO Method)- Mixing Department Unit Information Units charged to production Beginning WIP 200 Units started during the month 4,800 Total Units accounted for 5,000 Units to be assigned cost: Equivalent Units Whole % Direct % Conversion units Completed Materials Completed Cost Beginning work-in-process 200 70% 140 Started and completed during the month 4,200 100% 4,200 100% 4,200 Units completed and transferred out 4,400 Ending work-in-process 600 100% 600 60% 360 Total units to be assigned costs 5,000 4,800 4,700 Total cost to account for Total Cost per unit Beginning Work in process Costs added during the month Total costs to account for Direct Materials $10,700 $19,200 $29,900 Conversion Costs $18,400 $79,900 $98,300 $29,100 $99,100 $128,200 Cost Information Cost per equivalent unit Costs added during the month Divided by: EUP this period Cost per equivalent unit Direct Materials $19,200 4,800 $4.00 Conversion Costs $79,900 4,700 $17.00 Total Cost allocated to completed and partially completed units: Direct Materials Beginning work in process $10,700 Costs to complete beginning work in process $0 Total cost to complete beginning work in process $10,700 Started and completed $16,800 Transferred to Mixing Department $27,500 Ending work-in-process $2,400 Total costs accounted for $29,900 Conversion Costs $18,400 $2,380 $20,780 $71,400 $92,180 $6,120 $98,3001 $29,100 $2,380 $31,480 $88,200 $119,680 $8,520 $128,200 $157.40 $21.00 Credit Debit $99,100 Date Accounts Mar 31 Work in process - Mixing Raw Material Inventory Wages payable Manufacturing overhead $19,200 $20,490 $59,410 Credit Date Accounts Mar 31 Work in process - Molding Work in process - Mixing Debit $119,680 $119,680