Problem

Exercise 18.11 is an extension of Exercise 18.10.The following information pertains to May...

Exercise 18.11 is an extension of Exercise 18.10.

The following information pertains to May activity in Accessory World's Coating Department:

Cost data:

 

Total cost of beginning inventory on May 1

$45,300

Direct materials costs incurred in May

11,925

Conversion costs incurred in May

84,525

Cut sets transferred in during May

?

Physical units data:

 

Units in process. May 1

6,000 sets

Units started in May

? sets

Units in process, May 31

9 000 sets

Percentage of completion data:

 

Direct materials, May 1

60%

Conversion, May 1

80

Cut sets transferred in, May 1

?

Direct materials, May 31

70%

Conversion, May 31

90

Cut sets transferred in, May 31

?

a. Compute how many cut mat sets were started in the Coating Department during May.


b. Prepare a schedule showing: (1) the number of mat sets transferred out of the Coating Department in May, and (2) the number of mat sets started and completed by the Coating Department in May.


c. Compute the equivalent units of input resources for the Coating Department in May.


d. Compute the cost per equivalent unit of input resource for the Coating Department in May.


e. Prepare the summary journal entry required to transfer the cost of finished mat sets from the Coating Department's Work in Process Inventory to the company's Finished Goods Inventory in May.


f. Compute the total cost assigned lo the Coating Department's ending inventory in process on May 31.

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