Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following is information about the assembly department of a company: 1. There were 184,900 units in work in process on August 1. With respect to

Following is information about the assembly department of a company:

1. There were 184,900 units in work in process on August 1. With respect to units transferred in, 100% were complete and costs incurred amounted to $140,200. With respect to conversion, 75% of the units were complete and costs incurred amounted to $52,000.
2. 485,800 units were transferred in from the cutting department during August.
3. 612,900 units were completed during August and transferred to the finished goods inventory.
4. During August, costs incurred were as follows: $490,258 for units transferred in from cutting, $355,482 for direct materials used, and $143,141 for conversion costs.
5. There are 57,800 units in work in process on August 31. With respect to the units transferred in, 100% are complete and 65% are complete with respect to conversion.

FILL IN PLACES THAT SAY FILL IN, NEED HELP ASAP!!

Prepare a production cost report. (Round unit costs to 7 decimal places, e.g. 0.1287345 and all other answers to 0 decimal places, e.g. 5,275.)

Transferred in Direct Materials Conversion costs Totals
Units to be accounted for:
Work in process, Aug. 1 fill in
Units transferred in fill in
fill in
Units accounted for:
Transferred out fill in fill in fill in
Work in process, Aug. 31 fill in fill in fill in
Costs in August $ fill in $ fill in $fill in $ fill in
Equivalent units fill in fill in fill in
Unit cost $ fill in $ fill in $ fill in $ fill in
Costs to account for:
Work in process, Aug. 1 $ fill in
Started into production fill in
$ fill in
Costs accounted for
Transferred out $ fill in
Work in process, Aug. 31
Transferred in $ fill in
Conversion costs fill in
Total costs $ fill in

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

Occupational Fraud And Abuse

Authors: Joseph T. Wells

1st Edition

1889277088, 978-1889277080

More Books

Students also viewed these Accounting questions

Question

3.2. Describe the DSM-5 approach to diagnosing mental disorders ?

Answered: 1 week ago