Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Business Law and... Infrastructure UNI... Springer Texts in... Ve Pixel Road 1 Scribners Corporation produces fine papers in three production departmentsPulping, 'Drying, and Finishing. In

image text in transcribed

image text in transcribed

Business Law and... Infrastructure UNI... Springer Texts in... Ve Pixel Road 1 Scribners Corporation produces fine papers in three production departmentsPulping, 'Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and spooled onto reels. The company uses the weighted average method in its process costing system Data for March for the Drying Department follow. Units 6.800 7,500 Work in process inventory, March 1 Work in process inventory, March 31 Percent Completed Pulping Conversion 100% 100% 20% 12% Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added during March Conversion cost added during March $3,700 $570 155,300 $183,250 $30,900 No materials are added in the Drying Department Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department Wet fiber is processed in the Drying Department in batches: each unit in the above table is a batch and one batch of wet fibers produces a set amount of dried paper that is passed on to the Finishing Department. Requirement 1: Determine the equivalent units for March for pulping and conversion. Pulping Conversion Equivalent units of production Requirement 2: Compute the costs per equivalent unit for March for pulping and conversion (Round your answers to 2 decimal places. Omit the "S" sign in your response.) w a UIT GIU WALLIT UI cu liber pruuuces d sel dillur Or Ured paper that is passed on to the Finishing Department. Requirement 1: Determine the equivalent units for March for pulping and conversion Pulping Conversion Equivalent units of production Requirement 2: Compute the costs per equivalent unit for March for pulping and conversion. (Round your answers to 2 decimal places. Omit the "S" sign in your response.) Pulping Conversion Cost per equivalent unit Requirement 3: (a) Determine the total cost of ending work in process inventory. (Round your answers to the nearest dollar amount. Omit the "$" sign in your response.) Pulping Conversion Total Cost of ending work in process inventory (b) Determine the total cost of units transferred to the Finishing Department in March. (Round your answers to the nearest dollar amount. Omit the "S" sign in your response.) Pulping Conversion Total Cost of units completed and transferred out

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: 3

blur-text-image

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

Electronic Data Processing Controls And Auditing

Authors: W.Thomas Porter

1st Edition

0534009336, 978-0534009335

More Books

Students also viewed these Accounting questions