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How can I put the numbers on Exercise 18.6 (which is given below) to the production report sheet (also given below). If there are formulas
How can I put the numbers on Exercise 18.6 (which is given below) to the production report sheet (also given below). If there are formulas to use I would appreciate if you include them
LO18-2 through LO18-5 EXERCISE 18.6 Executive Designs began making high-quality office furniture in January. The company's execu- tive desks are produced in two departments: Cutting and Finishing. Component kits are produced in the Cutting Department and then transferred to the Finishing Department for trimming and Process Costing with Noassembly. During its first month of operations, the Cutting Department started 15,000 executive Beginning Inventories: Part I desk kits. January direct materials costs in the Cutting Department totaled $600,000, and conver- sion costs totaled $590,000. Ending inventory on January 31 consisted of 4,000 partially processed component kits. These units were 100 percent complete with respect to direct materials, but only 20 percent complete with respect to conversion. Production Report Physical Flow of Units Beginning Work in Process Units Started Total Units To Account For Less: Ending Work In Process Units Completed and Transferred Out Less: Beginning Work In Process Units Started and Completed Computation of Equivalent Units To finish Beginning WIP DM Conversion for Direct Materials for Conversion Units Started and Completed Ending WIRP: for Direct Materials for Conversion Equivalent Units DM Conversion Cost Per Equivalent Unit Cost of Direct Materials and Conversion Equivalent Units Cost per Equivalent Unit Total Cost of units Transferred Cost of Beginning Inventory Direct Materials Conversion Cost Total Cost of Units Transferred Total Cost of Ending WIP Inventory Direct Materials Conversion Total Cost of Ending WIP Inventory
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