Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I been looking for tutor no one want to help can anyone help with this Im lost? 9172018 PR.03-04B.ALGO(Algorithmic Work in Process Account Data for

I been looking for tutor no one want to help can anyone help with this Im lost? image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
9172018 PR.03-04B.ALGO(Algorithmic Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Alumin which consists of the smeiting 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 um Company uses a process cost system to record the costs of manufacturing rolled aluminum, September were as follows Bal, 1,200 units, 70% completed Direct materials (1,200 x$ 7.7) Conversion (1,200 x 70% x $3.2) 9,240 2,688 s11,928 From Smelting Department, 27,600 units $215,280 56,371 30,353 Direct labor Factory overhead During September, 1,200 units in process on September 1 were completed, and of the 27,600 units entering the department, all were completed except 2,800 units that were 40% completed. Charges to work in Process- Rolling for October were as follows: From Smelting Department, 31,700 units $253,600 70,940 38,200 Direct labor Factory overhead During October, the units in process at the beginning of the month were completed, and of the 31,700 units entering the department, all were completed except 1,600 units that were 20% completed. Required: 1. Enter the balance as of September 1 in a four-column account for Work in Process-Roling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT NO. ACCO UNT Work in Process-Rolling Department BALANCE ITEM POST. REF. DEBIT CREDIT DEBITCREDIT DATE Sept. 1 Bal, 1,200 units, 70% completed Sept. 30 Smelting Dept., 27,600 units at $7.8 Sept. 30Direct labor Sept. 30 Factory overhead Sept. 30 Finished goods Sept. 30 Bal, 2,800 units, 40% completed 199

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

The Audit Committee Handbook

Authors: Louis Braiotta Jr.

3rd Edition

0471345768, 978-0471345763

More Books

Students also viewed these Accounting questions