anvas XCO que TUP Below is a cos. sheet for Pugs n Rugs Co. arug manufacturing company. You are the manager and have received the cost of production sheet from the accounting ofhce and need to make some decisions based on the information provided. Using the examples you wcked on in chapter 3, dissect the cost of production sheet and translate it into story form. Based on your records last period the equivalent units of production for direct materials was $14.50 and conversion was $8.00. Identify if the change in EUP was an increase or decrease and what amount for each. What are some contributing factors to the changes? Are these changes good or bad? What kind of effects will the Nuctuation of the cost of EUP have on the decisions you will be making for the next period? Prepare the journal entries to show the purchase of materials, the conversion costs assuming the direct labor was $92,000) and the transfer to finish goods Pugsn Rugs Cost of Production Report Department Equivalent Units of Production DIRECT MATERIALS WHOLE UNITS CONVERSION UNITS Units Charged to production Beginning WIP Inventory in Process, July 1 Received from Milling Department Total Units accounted for by Sitting Department 950.00 15.620.00 16,570,00 EUP Direct Materials Units to be assigned costs: Beginning WIP Started and completed (Transferred to packaging. Bes WIP) Transferred to Packaging Department Ending WIP Total Units to be assigned costs Mustequal total units accounted for by sifting department) 950.00 14780.00 15.730.00 340.00 16.570.00 14.780.00 14,780,00 340.00 15.620.00 Conversion 475.00 14.730.00 15.255.00 504.00 15.759.00 Started and Completed (Transferred to packaging. Beg WIP) Transferred to Packaging Department Ending WP Total Units to be assigned costs (Must equal total units accounted for by sifting departmen 14.780.00 15.730.00 14.780.00 14,780.00 840.00 15.620.00 14.780.00 15.255.00 50000 15.759.00 16,570.00 COSTS Direct Materials Conversion 230,000.00 15,620.00 14.72 125,000.00 15,759.00 7.93 COSTS Cost per equivalent Unit Total costs for July Sifting Department Total Equivelant Units from step 2 Cost per equivalent Unit Costs Assigned to production Cost of Beginning WIP Cost incurred in period (DMDL. FOH) Total costs to account for Costs allocated to completed and partially completed units Beginning WIP To complete Beginning WIP Cost to complete July WIP Cost of started and completed in period Transferred to packaging department Ending Inventory WIP Total Costs assigned 28,470.00 355.000.00 383.470.00 3.767.69 217,631.24 117.234.50 28,470.00 3,767.69 32.237.69 334.365.34 367,103.53 16,366,47 383,470.00 12,368.76 3.997.72 B 1 4 A A : I = = = = = = = = = anvas XCO que TUP Below is a cos. sheet for Pugs n Rugs Co. arug manufacturing company. You are the manager and have received the cost of production sheet from the accounting ofhce and need to make some decisions based on the information provided. Using the examples you wcked on in chapter 3, dissect the cost of production sheet and translate it into story form. Based on your records last period the equivalent units of production for direct materials was $14.50 and conversion was $8.00. Identify if the change in EUP was an increase or decrease and what amount for each. What are some contributing factors to the changes? Are these changes good or bad? What kind of effects will the Nuctuation of the cost of EUP have on the decisions you will be making for the next period? Prepare the journal entries to show the purchase of materials, the conversion costs assuming the direct labor was $92,000) and the transfer to finish goods Pugsn Rugs Cost of Production Report Department Equivalent Units of Production DIRECT MATERIALS WHOLE UNITS CONVERSION UNITS Units Charged to production Beginning WIP Inventory in Process, July 1 Received from Milling Department Total Units accounted for by Sitting Department 950.00 15.620.00 16,570,00 EUP Direct Materials Units to be assigned costs: Beginning WIP Started and completed (Transferred to packaging. Bes WIP) Transferred to Packaging Department Ending WIP Total Units to be assigned costs Mustequal total units accounted for by sifting department) 950.00 14780.00 15.730.00 340.00 16.570.00 14.780.00 14,780,00 340.00 15.620.00 Conversion 475.00 14.730.00 15.255.00 504.00 15.759.00 Started and Completed (Transferred to packaging. Beg WIP) Transferred to Packaging Department Ending WP Total Units to be assigned costs (Must equal total units accounted for by sifting departmen 14.780.00 15.730.00 14.780.00 14,780.00 840.00 15.620.00 14.780.00 15.255.00 50000 15.759.00 16,570.00 COSTS Direct Materials Conversion 230,000.00 15,620.00 14.72 125,000.00 15,759.00 7.93 COSTS Cost per equivalent Unit Total costs for July Sifting Department Total Equivelant Units from step 2 Cost per equivalent Unit Costs Assigned to production Cost of Beginning WIP Cost incurred in period (DMDL. FOH) Total costs to account for Costs allocated to completed and partially completed units Beginning WIP To complete Beginning WIP Cost to complete July WIP Cost of started and completed in period Transferred to packaging department Ending Inventory WIP Total Costs assigned 28,470.00 355.000.00 383.470.00 3.767.69 217,631.24 117.234.50 28,470.00 3,767.69 32.237.69 334.365.34 367,103.53 16,366,47 383,470.00 12,368.76 3.997.72 B 1 4 A A : I = = = = = = = = =