Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

core:5 of 20 pts 3 of 5 (3 complete E18-24 (similar to) Paulson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging

image text in transcribed
image text in transcribed
image text in transcribed
core:5 of 20 pts 3 of 5 (3 complete E18-24 (similar to) Paulson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles) Data from the month of March for the Fermenting Department are as follows: (Click the icon to view the data from March) Paulson March (Clic Conversie Read the Date Accounts Debit Credit Mar. 31 Work-in-Process Inventory-Fermenting 13,518 Raw Materials Inventory 9.828 Manufacturing Overhead 3278 Wages Payable 412 Also prepare the journal entry to record the cost of the gallons completed and transferred out to the Packaging Department. Date Accounts Debit Credit Mat 31 Work-in-Process Inventory Packaging Work-in-Process Inventory-Fermenting Choose from any list or enter any number in the input fields and then click Check Answer 3 parts remaining Clear All ork 3 of 5 (3 complete) ata Table 400 gallons 8.100 gallons 7.800 gallons 700 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs Beginning Work-in-Process Inventory Direct materials Direct labor Manufacturing overhead allocated Costs added during March: Direct materials $ 1,647 240 250 9.828 Print Done Reference Paulson Winery Production Cost Report - Fermenting Department (Partial) Month Ended March 31 Direct Conversion Total COSTS Materials Costs Costs $ Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for 1,647 $ 9.828 490 $ 3,690 2.137 13.518 $ 15.655 11,475 $ 8.500 4.180 $ 8,360 Divided by: Total equivalent units of production $ 1.35 $ 0.50 Cost per equivalent unit Costs accounted for Print Done core:5 of 20 pts 3 of 5 (3 complete E18-24 (similar to) Paulson Winery in Pleasant Valley, New York, has two departments: Fermenting and Packaging Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles) Data from the month of March for the Fermenting Department are as follows: (Click the icon to view the data from March) Paulson March (Clic Conversie Read the Date Accounts Debit Credit Mar. 31 Work-in-Process Inventory-Fermenting 13,518 Raw Materials Inventory 9.828 Manufacturing Overhead 3278 Wages Payable 412 Also prepare the journal entry to record the cost of the gallons completed and transferred out to the Packaging Department. Date Accounts Debit Credit Mat 31 Work-in-Process Inventory Packaging Work-in-Process Inventory-Fermenting Choose from any list or enter any number in the input fields and then click Check Answer 3 parts remaining Clear All ork 3 of 5 (3 complete) ata Table 400 gallons 8.100 gallons 7.800 gallons 700 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs Beginning Work-in-Process Inventory Direct materials Direct labor Manufacturing overhead allocated Costs added during March: Direct materials $ 1,647 240 250 9.828 Print Done Reference Paulson Winery Production Cost Report - Fermenting Department (Partial) Month Ended March 31 Direct Conversion Total COSTS Materials Costs Costs $ Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for 1,647 $ 9.828 490 $ 3,690 2.137 13.518 $ 15.655 11,475 $ 8.500 4.180 $ 8,360 Divided by: Total equivalent units of production $ 1.35 $ 0.50 Cost per equivalent unit Costs accounted for Print Done

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

Maximizing Corporate Value Through Mergers And Acquisitions A Strategic Growth Guide

Authors: Patrick A. Gaughan

1st Edition

1118108744, 9781118108741

More Books

Students also viewed these Accounting questions

Question

Describe the key elements of performance appraisal.

Answered: 1 week ago

Question

Describe the problems in the administration of disciplinary action.

Answered: 1 week ago

Question

Explain discipline and disciplinary action.

Answered: 1 week ago