AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 360 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 360 pounds was $50,112, determined as follows:

1	Direct materials (360 $132)	$47,520.00
2	Conversion (360 60% $12)	2,592.00
3		$50,112.00

During May, the Casting Department was charged $353,600 for 2,600 pounds of alloy and $22,651 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 2,760 pounds of finished castings to the Machining Department. The May 31 inventory in process was 15% complete as to conversion.

Required:

A.

(1)	On May 1, prepare the journal entry for the Casting Department for the materials charged to production.*
(2)	On May 31, prepare the journal entry for the Casting Department for the conversion costs charged to production.*
(3)	On May 31, prepare the journal entry for the Casting Department for the completed production transferred to the Machining Department.*
*	Refer to the Chart of Accounts for exact wording of account titles.

B.

Determine the Work in Process-Casting Department May 31 balance.

C.

Compute and evaluate the change in the costs per equivalent unit for direct materials and conversion from the previous month (April).

Cost of production and journal entries Chart of Accounts AccuBlade Castings Inc, casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, thern poured into molds to produce the castings. On May 1, there were 360 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 360 pounds was $50,112, determined as follows Direct macerials 4752000 PAGE 10 x 513 Conversion ($60259200 . DEBIT CREDIT DATE DESCRIPTION x60% x $1 50,112.00 During May, the Casting Department was charged $353,600 for 2,600 pounds of alloy and $22,651 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 2,760 pounds of finished castings to the Machining Department. The May 31 inventory in process was 15% complete as to conversion. A(2). On May 31, prepare the jounal entry for the Casting Department for the conversion costs charged to production. Refer to the Chart of Accounts for exact wording of account titles. Required: A. (1) On May 1, prepare the journal entry for the Casting Department for the PAGE 10 JOURNAL materials charged to production. (2) On May 31, prepare the journal entry for the Casting Department for the DATE DESCRPTION . DEBIT CREDIT conversion costs charged to production. (3) On May 31, prepare the journal entry for the Casting Department for the * Refer to the Chart of Accounts for exact wording of account titles. B. Determine the Work in Process-Casting Department May 31 balance. C. Compute and evaluate the change in the costs for direct materials and conversion from the previous month (Apr). A(3). On May 31, prepare the journal entry for the Casting Department for the completed production transferred to the Machining Department. Refer to the Chart of Accounts for cxact wording of account titles. PAGE 10 DATE DESCRPTION . DEBIT CREDIT B. Determine the Work in Process-Casting Department May 31 balance. C. Compute and evaluate the change in the costs per equivalent unit for direct matenals and conversion from the previous month (Apri). Cost per Equivalent Unit Change in materials Change in conversion Next