Hello,

I need this problem completed:

This problem has a value of10% of the final grade

Objective: Demonstrate application of Process Costing ofa manufacturing company including the following:

Determine DepartmentWIP inventory

Calculation ofEquivalent Units

DetermineFinished Goods Inventory

Calculation ofCOGS

Determination ofGross Profit

Adam?s Apple Company makeshomemade applesauce using Grandma Adam?s special recipe. The company uses a FIFO process cost system. The process starts in the Kettle Room whereapples are cored, cut and added to the Kettles along with Grandma?s specialspices. After several hours of slowsimmering, the sauce is cooled as it moves to the Canning department where thesauce is poured into jars and sealed.After the jars are sealed they move to the packing department where theyare placed into boxes and moved to finished goods where they are ready forsale. During the month of March thecompany sold 5,000 boxes of sauce with each box holding a dozen jars. A jar ofsauce sells for $4.00.

1. Create theWIPs for each department indicating the Cost of each jar as it moves throughthe process.

2. Using thefollowing information, determine the Gross Profit for the month of March.

Kettle Department: Beginning Balance 16000 at 90% complete with Costs of $13,600

EndingInventory 4000 jars at 20% completion

DM used $ 21,280

DL used $8,000

FOH allocated $ 6,560

Canning Department: Beginning Balance 28,000 at 30% completewith costs of $33,600

Jars Started 50,000

Jars Transferred toPacking 62,000

Ending Inventory was40% completed

DM used $ 30,000

DL used $ 14,800

FOH allocated $ 19,500

Packing Department: Beginning Balance 14,000 at 75% completewith costs of $18,990

Ending Inventory 23,000 jars at 10% completed

DM used $ 14000

DL used $ 5600

FOH allocated $ 11000

Finished Good Department: BeginningBalance 21,500 jars with costs of $ 47,515

DL used $ 18,625

FOH allocated $11,175

ACCOUNTING 211 COMPREHENSIVE PROBLEM 5 ADAM'S APPLE COMPANY MMK This problem has a value of 10% of the final grade Objective: Demonstrate application of Process Costing of a manufacturing company including the following: Determine Department WIP inventory Calculation of Equivalent Units Determine Finished Goods Inventory Calculation of COGS Determination of Gross Profit Adam's Apple Company makes homemade applesauce using Grandma Adam's special recipe. The company uses a FIFO process cost system. The process starts in the Kettle Room where apples are cored, cut and added to the Kettles along with Grandma's special spices. After several hours of slow simmering, the sauce is cooled as it moves to the Canning department where the sauce is poured into jars and sealed. After the jars are sealed they move to the packing department where they are placed into boxes and moved to finished goods where they are ready for sale. During the month of March the company sold 5,000 boxes of sauce with each box holding a dozen jars. A jar of sauce sells for $4.00. 1. Create the WIPs for each department indicating the Cost of each jar as it moves through the process. 2. Using the following information, determine the Gross Profit for the month of March. Kettle Department: Beginning Balance 16000 at 90% complete with Costs of $13,600 Ending Inventory 4000 jars at 20% completion DM used $ 21,280 DL used $ 8,000 FOH allocated $ 6,560 Canning Department: Beginning Balance 28,000 at 30% complete with costs of $33,600 Jars Started 50,000 Jars Transferred to Packing 62,000 Ending Inventory was 40% completed DM used $ 30,000 DL used $ 14,800 FOH allocated $ 19,500 Packing Department: Beginning Balance 14,000 at 75% complete with costs of $18,990 Ending Inventory 23,000 jars at 10% completed DM used $ 14000 DL used $ 5600 FOH allocated $ 11000 Finished Good Department: Beginning Balance 21,500 jars with costs of $ 47,515 DL used $ 18,625 _MM KLINE _ 1 ACCOUNTING 211 COMPREHENSIVE PROBLEM 5 ADAM'S APPLE COMPANY MMK FOH allocated $11,175 _MM KLINE _ 2