Chrome Accessories manufactures chrome bumpers for classic cars in a two-stage process that includes molding and plating. The direct materials (chrome) are added at the end of the plating process. Conversion costs are incurred evenly throughout the process. Chrome Accessories uses weighted-average process costing. At March 31, 2009, before recording the transfer of cost to Finished Goods Inventory, Chrome Accessories' records included the following data for the Plating Department:

Requirements 

1. Draw a time line for the Plating Department.

2. Use the time line to help you compute the equivalent units, cost per equivalent unit, and total costs to account for in the Plating Department for March.

3. Prepare the March production cost report for the Plating Department.

4. Journalize all transactions affecting the Plating Department during March, including the entries that have already been posted. 

Transcribed Image Text:

Units: Beginning work in process 600 bumpers Transferred in from the Molding Department during March 3,000 bumpers Completed during March 2,200 bumpers Ending work in process (50% complete as to conversion work) 1,400 bumpers Costs: Beginning work in process (transferred-in cost, $18,000; conversion costs, $12,480) $30,480 Transferred in from the Molding Department during March 36,000 Materials cost added during March 24,200 Conversion costs added during March (manufacturing wages, $21,732; manufacturing overhead, $38,288) 60,020