Homework eBook Calculator Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses a process cost system to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The Inventory of Work In Process-Rolling on September 1 and debits to the account during September were as follows: Bal., 1,200 units, 60% completed: Direct materials (1,200 x $7) $ 8,400 Conversion (1,200 x 60% x $2.9) 2,088 $ 10,488 From Smelting Department, 25,800 units $183,180 Direct labor 46,878 Factory overhead 25,242 During September, 1,200 units in process on September 1 were completed, and of the 25,800 units entering the department, all were completed except 2,800 units that were 20% completed. Charges to Work in Process Rolling for October were as follows: $216,810 From Smelting Department, 29,700 units Direct labor 63,710 Factory overhead 34,312 During October, the units in process at the beginning of the month were completed, and of the 29,700 units entering the department, all were completed except 1,600 units that were 80% completed. Required: 1. Enter the balance as of September 1 In a four-column account for Work in Process-Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determinina (al equivalent units of production for materials and conversion. (b) costs per equivalent unit. (c) cost of coods finished. ACCOUNT Work in Process-Rolling Department ACCOUNT NO. BALANCE POST. REF. DEBIT CREDIT DEBIT CREDIT 10,488 DATE Sept. 1 Sept. 30 Sept. 30 ITEM Bal, 1,200 units, 60% completed Smelting Dept., 25,800 units at $7.1 Direct labor 183,180 193,668 46,878 240,546 Sept. 30 Factory overhead 25,242 265,788 Sept. 30 Sept. 30 Finished goods Bal., 2,800 units, 20% completed Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended September 30 Whole Units Equivalent Units Direct Units Materials (a) Conversion (a) Units charged to production: Inventory in process, September 1 1,200 Received from Smelting Department 25,800 Total units accounted for by the Rolling Department 27,000 Units to be assigned costs: Inventory in process, September 1 0 Started and completed in September Transferred to finished goods in September 1,200 25,800 X 27,000 x 2,800 29,800 x 0 25,800 X 25,800 x 2,800 28,600 x 480 25,800 x 25,800 x 560 26,360 x Inventory in process, September 30 Total units to be assigned costs Costs Direct Materials Conversion Total Costs Cost per equivalent unit: Total costs for September in Rolling Department $ $ 72,120 72,120 X 25,800 Total equivalent units 26,360 Cost per equivalent unit (b) s 2.74 X Costs assigned to production: Inventory in process, September 1 $ 10,488 Costs incurred in September 255,300 Total costs accounted for by the Rolling Department $ 265,788 Costs allocated to completed and partially completed units: Inventory in process, September 1 balance (c) $ 10,488 To complete inventory in process. September 1 (0) 1,315X Cost of completed September 1 work in process $ 11,803 Started and completed in September (c) $ 72,240 x 70,692 x 142,932 x Transferred to finished goods in September (c) s 154,735 X Inventory in process, September 30 (d) 7,840 x 1,534 x 9,374 X Total costs assigned by the Rolling Department $164,109 X 3. Provide the same information for October by recording the October transactions in the four-column work in process count. Construct October comoutons la through dibed in part 5). If an amount box does not require an entry leave it blank ACCOUNT Work in Process Rolling Department ACCOUNT NO. DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT October Balance Smelting Octobe-31 p 29,70 units $7.3 October 11 Direct aber October 3: Factory Overhead October 31 October 11 Finished goods , 1.600 units, 80% completed of an amount is curo, starin o ". Round cost per unitar bath att Pittsburgh Aluminum Company Cost of Production Report-Rolling Department For the Month Ended October 31 Whole Units Equivalent Units Direct Conversion Materials (a) (a) Units Units charged to production: Inventory in process, October 1 Received from Smelting Department Total units accounted for by the Rolling Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to finished goods in October Inventory in process, October 31 Total units to be assigned costs S COSES Direct Materials Conversion Total Costs Costs Cost per equivalent unit: Total costs for October in Rolling Department Total equivalent units Cost per equivalent unit (b) VE Costs assigned to production: 1 Inventory in process, October 1 Costs incurred in October Total costs accounted for by the Rolling Department Costs allocated to completed and partially completed units: Inventory in process, October 1 balance (c) To complete inventory in process, October 1 (c) Cost of completed October 1 work in process $ Started and completed in October (6) Transferred to finished goods in October (c) Inventory in process, October 31 (d) Total costs assigned by the Rolling Department