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Barksdale Corporation produces hair care products. ShineOnOne is a one-step shampoo and conditioner that is produced in a three-step process. The three phases of production
Barksdale Corporation produces hair care products. ShineOnOne is a one-step shampoo and conditioner that is produced in a three-step process. The three phases of production consist of mixing, blending, and bottling. Below is a partial schedule of June's costs for each phase of production. Complete the schedule and respond to the questions that follow. | |||||||||
Beginning Balance | June Costs | Cost Transfers | Ending Balance | ||||||
Mixing | $ 288,100 | $ 1,444,424 | $ (1,019,087) | ? | |||||
Blending | 316,700 | ? | ? | ? | |||||
(3,378,909) | |||||||||
Bottling | 454,900 | 954,000 | ? | ? | |||||
? | |||||||||
? | $ 4,709,991 | $ (4,155,676) | ? | ||||||
(a) | Which department experienced a decrease in work in process during June? | ||||||||
(b) | How much was transferred to finished goods inventory? | ||||||||
(c) | What will be reported as "work in process" at the end of June? | ||||||||
(d) | If total finished goods inventory decreased by $100,000, and the selling price is equal to 200% of cost of goods sold, how much would be reported for ShineOnOne sales during June? |
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