Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 Busy Bee Co. manufactures in two Departments: Aand B. Department A adds materials at the beginning of the production process and 2 incurs conversion

image text in transcribed
image text in transcribed
image text in transcribed
1 Busy Bee Co. manufactures in two Departments: Aand B. Department A adds materials at the beginning of the production process and 2 incurs conversion costs uniformly throughout production. The following data is available for the month of January Units in Process at 1/1 Units placed into Production during January Units Completed and Transferred To Department B during January Stage of Completion Direct Materials Stage of Completion: Conversion Costs 1,000 20,000 17,500 Percentage Beginning Work in Process Direct Materials Beginning Work in Process, Conversion Costs Direct Materials Added in January Conversion Costs Added in January $25,000 $38,000 $ 505.000 $1,220,000 DM JANUARY PRODUCTION REPORT DEPARTMENT A 17 Units to Account For Total Costs to Account For: 18 Beginning Work in Process cell reference LABEL 19 Started into Production cell reference Added in January 20 Total Units to Account For formula Total Costs to Account For LABEL Equivalent Units of LAREL Production 24 Units Accounted For As Follox Total Costs Accounted For As Follows: 25 LABEL cell reference cell reference cell reference LABEL 26 Ending Work in Process formula formula formula LABEL 27 Total Units Accounted For formula formula formula Total Costs Accounted For formula cell reference cell reference formula cell reference cell reference formula formula formula cell reference cell reference formula formula Total formula formule formula OM formula formula formula formula formula formula 30 1. Complete the Production report, entering , labels, cell references and formulas where indicated. 31 2. Print 32 3. Make the following changes to the data section ONLY Change the stage of Completion for Conversion Costs from 60% to 45% Change Beginning Work In Process Direct Materials from $25,000 to $12,000. 35 4. Print 36 5. Print Formulas (CTRL), 33 34 4ABCDEFG Busy Bee Co. manufactures in two Departments: A and B. Department A adds materials at the beginning of the production process and 2 incurs conversion costs uniformly throughout production. The following data is available for the month of January Units in Process at 1/1 Units placed into Production during January Units Completed and Transferred To Department during January Stage of Completion: Direct Materials Stage of Completion: Conversion Costs 1,000 20,000 17.500 Percentage Beginning Work in Process Direct Materials Beginning Work in Process, Coriversion Costs Direct Materials Added in January Conversion Costs Added in January $25,000 $30,000 505,000 1,220,000 JANUARY PRODUCTION REPORT - DEPARTMENTA 17 Units to Account For Total Costs to Account For 18 Beginning Work in Process cell reference LABEL 19 Started into Production cell reference Added in January 20 Total Units to Account For formula Total Costs to Account For LABEL Equivalent Units of LABEL 23 Production 24 Units Accounted For As Follov Total DM Costs Accounted For As Follows: 25 LABEL cell reference cell reference cell reference LABEL 26 Ending Work In Process formula formula formula LABEL 27 Total Units Accounted For formula formula formula Total Costs Accounted For 28 Total OM formula cell reference cell reference formula cell reference cell reference formula formula formula cell reference cell reference formula formula 21 Total formula formula formula DM formula formula formula C C formula formula formula 301. Complete the Production report, entering %, labels, cell references and formulas where indicated BV 2. Print 32 3. Make the toWowing changes to the data section ONLY: 33 Change the stage of Completion for Conversion costs from 60% to 45% 34 Change Beginning Work in Process, Direct Materials from $25,000 to $12,000. 35 4. Print 36 5. Print Formulas (CTRL")

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What are reciprocal ownership interests?

Answered: 1 week ago

Question

What is helping you move forward?

Answered: 1 week ago