Harrelson Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials and
Question:
Harrelson Company manufactures pizza sauce through two production departments:
Cooking and Canning. In each process, materials and conversion costs are incurred evenly throughout the process. For the month of April, the work in process accounts show the following debits.
Cooking Canning Beginning work in process $ –0– $ 4,000 Materials 21,000 9,000 Labor 8,500 7,000 Overhead 31,500 25,800 Costs transferred in 53,000 Instructions Journalize the April transactions.
E16-3 The ledger of Custer Company has the following work in process account.
Work in Process—Painting 5/1 Balance 3,590 5/31 Transferred out ?
5/31 Materials 5,160 5/31 Labor 2,740 5/31 Overhead 1,380 5/31 Balance ?
Production records show that there were 400 units in the beginning inventory, 30%
complete, 1,400 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,040 and conversion costs of $1,550. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
Instructions
(a) How many units are in process at May 31?
(b) What is the unit materials cost for May?
(c) What is the unit conversion cost for May?
(d) What is the total cost of units transferred out in May?
(e) What is the cost of the May 31 inventory?
AppendixLO1
Step by Step Answer:
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso