Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7. Stem Games manufactures playing cards. It has three departments: Printing, Cutting & Collating, and Wrapping. Transferred-in costs are considered materials costs. The following information

image text in transcribed
image text in transcribed
image text in transcribed
7. Stem Games manufactures playing cards. It has three departments: Printing, Cutting & Collating, and Wrapping. Transferred-in costs are considered materials costs. The following information is available for the Wrapping department for the month of October Part 1 of 2 Physical Unita 280,000 11.11 points Beginning work in process (1001 complete for materials, 808 complete for conversion) Decks transferred in Decks completed and transferred to Finished Goods Inventory Ending Work in Process (1008 complete for materials, 450 complate for conversion 3,160,000 3,200,000 2 Book Costs Hint Beginning work in process Direct materials Conversion cost Coats transferred in October costs Direct materials Conversion costs $ 188,900 $ 19,840 $1,777,500 $ 63,200 $ 277,880 References Required: Using the weighted average method of process costing. 1. Reconcile the number of physical decks worked on during the month. 2. Calculate the number of equivalent decks for the Wrapping department 3. Calculate the cost per equivalent deck. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Reconcile the number of physical decks worked on during the month Physical Units Physical Units Beginning Units Units Started Total Units Units Completed Ending Units Total Units Mc 7 Stem Games manufactures playing cards. It has three departments: Printing, Cutting & Collating, and Transferred-in costs are considered materials costs. The following information is available for the Wrap the month of October 1 of 2 Physical Units 280.000 3, 160,000 3,200,000 Beginning work in process (1003 complete for materials, 808 complete for conversion) Decks transferred in Decks completed and transferred to Finished Goods Inventory Ending Work in Process (100% complete for materials, 451 complete for conversion Book Costs: Beginning work in process: Direct materials Conversion cost Coats transferred in October costs: Direct materials Conversion costs $ 188,900 5 19,840 $1,777,500 Hint o $ 63,200 $ 277,880 erences Required: Using the weighted average method of process costing, 1. Reconcile the number of physical decks worked on during the month. 2. Calculate the number of equivalent decks for the Wrapping department. 3. Calculate the cost per equivalent deck Complete this question by entering your answers in the tabs below. Required 1 Required 3 Requirer? Calculate the number of equivalent decks for the Wrapping department. Physical Units Equivalent Units Direct Materials Conversion Units Completed Ending Inventory

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_2

Step: 3

blur-text-image_3

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

Auditing Information Systems Enhancing Performance Of The Enterprise

Authors: Abraham Nyirongo

1st Edition

1490754997, 9781490754994

More Books

Students also viewed these Accounting questions