Cast-A-Light manufactures candles in a two-department process: Assembly and Finishing. The Assembly Department molds wax into pillar candles and uses weighted average costing; the application of overhead in this department is unrelated to direct labor. The Finishing Department adds decorative trinkets to the molded candles and uses FIFO costing; overhead in this department is applied in conjunction with direct labor. For the current month, the following production data and costs were gathered: Assembly Department: Units: Beginning WIP 250 (100% complete for DM, 40% complete for DML: 30% complete for MOH) Units Started, current 8,800 Ending WIP 400 (100% complete for DM, 70% complete for DML; 90% complete for MOH) Costs: Beginning WIP: Current Period: DM $3,755 DM $100,320 DML 690 DML 63,606 MOH 250 MOH 27,681 Finishing Department: Units: Beginning WIP 100 (100% complete for transferred-in costs; 15% complete for DM; 40% complete for conversion) Units Transferred in, current 8,650 Ending WIP 200 (100% complete for transferred-in costs; 30% complete for DM; 65% complete for conversion) Costs: Beginning WIP: Current Period: Transferred-In $2,176 Transferred-in DM $188,570 30 DM 15,471 Conversion 95 Conversion 21,600 REQUIRED: Use good format! 1. Prepare a Cost of Production Worksheet for the Assembly Department for the current month. 2. Prepare a Cost of Production Worksheet for the Finishing Department for the current month. G H D E F (2) Equivalent Units Direct Direct Manf. Materials Labor Overhead 8 (1) Physical Flow of Production Units 3 WIP, Beginning 10 Started in current period 11 To account for 12 Completed and transferred, current 13 WIP, Ending 14 15 Accounted for 16 Work done to date 17 18 Total 19 Production 20 Costs 21 22 Summarize Total Costs To Account For: 23 WIP, beginning 24 Costs added, current 25 Total Costs to Account For 26 Compute Costs per Equivalent Unit 27 Costs incurred to date 28 Divide by E.U.s done to date 29 E.U. costs of work done to date 30 Assignment of Costs: 31 Completed/Transferred 32 WIP, Ending 33 Total costs accounted for 34 Assembly Finishing Direct Materials Direct Mtg. Labor Manufacturing Overhead (1) Physical Units (2) Equivalent Units Trans- Direct Conver- ferred in Materials sion Flow of Production WIP, Beginning Transferred-in in current period To account for Completed and transferred, current: From Beg. WIP Started & Completed Direct Materials Conversion Costs 5 WIP, Ending 7 8 Accounted For 19 Work done in current period only 20 21 Total 22 Production Transferred 23 Costs In Costs 24 25 Summarize Total Costs To Account For: 26 WIP, beginning 27 Costs added, current 28 Total Costs to Account For 29 Compute Costs per Equivalent Unit 30 Costs incurred, current 31 Divide by E.U.s done, current 32 E.U. costs of work done, current Assembly Finishing + C B D E F G H 4 Started & Completed 15 46 WIP, Ending 17 18 Accounted For 19 Work done in current period only 20 21 22 23 24 Total Production Transferred Costs In Costs Direct Materials Conversion Costs 25 Summarize Total Costs To Account For: 26 WIP, beginning 27 Costs added, current 28 Total Costs to Account For 29 Compute Costs per Equivalent Unit 30 Costs incurred, current 31 Divide by E.U.s done, current 32 E.U. costs of work done, current 33 Assignment of Costs: 34 Completed/Transferred 35 WIP. Beginning 36 Costs Added, Current 37 Total From Beginning WIP 38 Started and Completed 39 Total Cost of Units Transferred 40 WIP. Ending 41 Total costs accounted for Assembly Finishing A
