eBook Calculator Print tem Cost of production and journal entries Instructions Chart of Accounts Journal Final Question Instructions AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, aloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 340 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 340 pounds was 553,448, determined as follows: $51,000.00 Direct materials (340 $150) Conversion (340 60% $12) 2.448.00 $53.448.00 During May, the Casting Department was charged $379.200 for 2.400 pounds of aloy and $22,906 for direct labor Factory overhead is applied to the department at a tale of 150% of direct labor. The department transferred out 2.540 pounds of finished casting to the Machining Department. The May 31 inventory in process was 25% complete as to conversion Required: A (1) On May 1, prepare the journal entry for the Casting Department for the materials charged to production (2) On May 31, prepare the journal entry for the Casting Department for the conversion costs charged to production c) On May 31, prepare the journal entry for the Casting Department for the completed production anstered to the Machining Department Refer to the Chart of Accounts for exact wording of accountities B. Determine the Work in Process-Casting Department May 31 bulance Previous Next > Check My Work Book Calculator Print Item During May, the Casting Department was charged $379 200 for 2.400 pounds of alloy and $22,906 for direct labor. Factory overhead is applied to the department at a rate of 150% of die labot. The department transferred out 2,540 pounds of fnished castings to the Machining Department. The May 31 Inventory in process was 25% completo as to conversion Required: A. (1) On May 1, prepare the journal entry for the Casting Department for the materials charged to production (2) On May 31, prepare the journal entry for the Casting Department for the conversion costs charged to production (3) On May 31, prepare the journal entry for the Casting Department for the completed production transferred to the Machine Department Refer to the Chart of Accounts for exact wording of account titles B. Determine the Work in Process Casting Department May 31 balance C. Compute and evaluate the change in the costs per equivalent unit for direct materials and conversion from the previous month ( All Journal Aft). On May 1, prepare the journal entry for the Casting Department for the materials charged to production. Refer to the Chart of Accounts for exact wording of account PAGE 10 JOURNAL DESCRITION POST. REY DENT CREDIT Chart of Accounts for a word of the AZ) On May 31, prepare the journal entry for the Casting Department for the conversion cost charged to production Retro Book Calculator Print Item Al2). On May 31, prepare the journal entry for the Casting Department for the conversion costs charged to production. Refer to the Chart of Accounts for exact wording of accounts PAGE 10 JOURNAL DESCRPTION POST. REF DENT CREDIT A(3). On May 31, prepare the journal entry for the Casting Department for the completed production transferred to the Machining Department Refer to the Chart of Accounts by exact worry of accounts PAGE 1 JOURNAL DESCRIPTION Final Question Elusti Final Question B. Determine the Work in Process Casting Department May 31 balance. C. Compute and evaluate the change in the costservivalent unit for direct materials and conversion from the previous month (April) Cost per Equivalent Unit Change in materials Change in conversion
