Concept Exercise 1 Morning Glow Corporation uses a process costing system for its two production departments: Mixing and Packaging. The company provided the following manufacturing cost information for the month of May: Mixing Packaging Beginning work in process .$ 500 $ 900 4167 80 9 Costs transferred in Costs incurred in May Ending work in process. 1,000 P 2,000 1,200 5,000 1,500 a. Record the transfer of costs from the Mixing Department to the Packaging Department in May. Note: All JE lines may or may not be used 10 11 12 13 45 15 14 DB CR 16 17 18 b. Record the transfer of costs from the Packaging Department to Finished Goods Inventory in May 19 20 222 Note: All JE lines may or may not be used DB CR Cover Concepts Exercises Problem Exercises b. Record the transfer of costs from the Packaging Department to Finished Goods Inventory in May Note: All JE lines may or may not be used Beginning work in process DB CR Computations for a & b Mixing Packaging Costs transferred in from previous dept. Production costs in curred in May Ending WIP Costs transferred to next dept. Concept Exercise 2 Based upon the description of each group of units in production, compute the EOP of effort expended to that point in production; and the EUP of effort to complete the units 200 units, which are 70% complete Coun EUP COMPLETED EUP NEEDED TO COMPLETE Concept Exercise 2 Based upon the description of each group of units in production, compute the EOP of effort expended to that point in production; and the EUP of effort to complete the units 200 units, which are 70% complete 500 units, which are 50% complete 1,080 units, which are 20% complete 100 units, which are 85% complete EUP COMPLETED EUP NEEDED TO COMPLETE Concept Exercise 3 Solar Treats makes Cookie bars. The bars are run through a continuous production process where materials, labor and overhead are added continuously throughout the production process until the product is completed. Production started with no inventory. During the month 20,600 bars were placed into production. By the end of the accounting period, all of the bars were 70% complete. 1234 $5 a. How many EUPS have been expended on the bars to date? 56. 57 b. How many EUPs of effort must be expended to complete the bars? 50 59 60 + M Solar Treats makes Cookle bars. The bars are run through a continuous production process where 100% of the products' ingredients are added at the beginning of the production process. Direct labor and Overhead are added continuously through the entire production process. There are 80,000 bars started that are 80% complete in the production process. a. How many EUPS have been expended on the bars for materials and conversion costs to date? 64 65 66 67 68 b. How many EUPS of effort for materials and conversion costs must be expended to complete the 69 bars? 70 12 71 +