Answered step by step
Verified Expert Solution
Question
1 Approved Answer
DOLOL G n RPM R |R B * NOT G SI R RO LI .O P. .O TOT MS GEN X K C Gi @
DOLOL G n RPM R |R B * NOT G SI R RO LI .O P. .O TOT MS GEN X K C Gi @ HC E CEN MIEH + C a https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com... " * GGNOT Update C Chapter 16 Learn... CH 20 HW i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 8 Required information 10 The following information applies to the questions displayed below.] points The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials $ 34, 050 Conversion 3 , 780 $ 37, 830 Costs added this period Direct materials 367 , 200 Conversion 190, 080 557 , 280 Total costs to account for $ 595 , 110 Direct Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 3,500 1008 20% Units started this period 34, 000 Completed and transferred out 33,50 Ending work in process inventory 4, 000 1008 60% Prepare the Molding department's production cost report using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) x Answer is not complete. Unit Reconciliation Mc Graw HillDOLOL G n RPM R |R B * NOT G SI R RO LI .O P. .O TOT MS GEN X K C Gi @ HC E CEN MIEH + C a https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com... " * GGNOT Update C Chapter 16 Learn... CH 20 HW i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 8 x Answer is not complete. Unit Reconciliation 10 Units to account for points Beginning work in process 4,000 X Units started this period 34,500 X Total units to account for 38,500 Units accounted for Completed and transferred out 34,000 X Ending work in process 4,500 X Total units accounted for 38,500 Equivalent Units of Production (EUP) Direct Materials Conversion Units % Complete EUP % Complete EUP Completed and transferred out 34,000 X 100% 34,000 X 100% 34,000 X Ending work in process 4,500 X 100% 4,500 X 60% 2,700 X nt units of production 38,500 38,500 6,700 Direct Cost per EUP Materials Conversion Cost of beginning work in process $ 39,750 X 1,400 X Costs added this period 376,050 X 197,450 X Total costs Costs $ 415,800 Costs $ 201,850 + Equivalent units of production EUP 38,500 X EUP 36,700 X Cost per equivalent unit of production $ 10.80 $ 5.50 Cost Assignment Mc Graw HillDOLOL G n RPM R |R B * NOT G SI R R .OLI .O P . .O T .O T M S C E N 5 X * C Gi @ H C E @ E ON M Ir ( F H + C a https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com... " * G *0 Update C Chapter 16 Learn... CH 20 HW i Saved Help Save & Exit Submit Check my work 6 Direct materials used-Cutting 21 , 750 Direct materials used-Stitching 0 Direct labor Direct labor-Cutting $ 15 , 600 Part 1 of 2 Direct labor-Stitching 62, 400 Factory Overhead (Actual costs) Indirect materials used $ 6, 000 Indirect labor used 55 , 000 10 Other overhead costs 46, 505 points Factory Overhead Rates Skipped Cutting 1508 of direct materials used Stitching 1208 of direct labor used eBook Sales $ 256, 000 Print References Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold. Hint: Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department. (a) Transferred to work in process-Stitching (b) Transferred to finished goods (c) Cost of goods sold Mc Graw Hill
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started