Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fast Compony produces its product through two processing departments: Cutting and Assembly. Information for the Cutting deportment followa. table [ [ , Units,Dlirect,Conversion ]

Fast Compony produces its product through two processing departments: Cutting and Assembly. Information for the Cutting deportment followa.
\table[[,Units,Dlirect,Conversion],[,\table[[Percont],[Complete]],\table[[Parcant],[Complete]]],[Boginning wark in process inventory,34,600,,],[Units startod this perliod,168,600,,],[Units completed and transferred out,158,600,,],[Ending work in process Imentory,24,600,1865,Beg],[Boginning work in process inventory],[Direct eaterials,$19,580,,],[Comersion,72,890,,12,339],[Costs added this perlod],[Direct materials,171,600,,],[Comversion,900,400,1,1,2,609],[Total costs to account for,,$1,2,4,389]]
Required:
Prepore the Curting deportment's production coat report for October using the weighted aversge method.
2 Prepore the October 31 joumal entry to transfer the cost of completed units from cutting to Assembly.
Complete this question by entering your answers in the tabs below.
Prepare the Curting department's productian cost report for October uaing the weighted average method.
Note: Round "Cost per EUP" to 2 dedmal places.
\table[[FA &T COMPANY_Cutting Dapartmant],[Produotion Coct Raport-Walghtsd Average Method],[For Month Ended Ootober 31],[Unit resonolliation:],[Unitc to sooount for:],[,,,,,],[Units to aooount for],[],[Total unitc absounted for:],[,,,,,],[Total units sooountad for],[Equlvalent units of produation (EUP)],[,,Dirsot Matariale,Convartion],[,Unitc,% Complets,EUP,% Complets,EUP],[,,,,,],[,,,,,],[Equivalent Units af Production],[Coct par aqulvalant unit of produstion,,,Dirsot Matarialc,,Convertion],[E,,,,,],[,,,,,],[Total cosita,,Cocts,,Costs,],[+ Equivalent units of production,,EUP,,EuP,],[Coest per equivalent unit of production,0,,a],[Coct Accignmant],[Complatod and transformad out,EUP,Coct par EUP,Total ooct,],[Dirsct matoriala],[Convarsion],[Ending wark in process],[Dirsct matariala,,0.00,0,,],[Conversion,,0.00,0,,],[Total cosits acocuntad for,,,,,]]
image text in transcribed

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

Financial Accounting An Introduction

Authors: Jacqui Kew, Alex Watson

4th Edition

0199046484, 978-0199046485

More Books

Students also viewed these Accounting questions

Question

16.8 Explain the typical steps in a grievance procedure.

Answered: 1 week ago

Question

16.4 Outline the five steps in the labour relations process.

Answered: 1 week ago