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i need it as soon as possible in the form as it is shown please Process Cost Accounting Oregon Wood Products, Inc, makes sheets of

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image text in transcribed i need it as soon as possible in the form as it is shown please
Process Cost Accounting Oregon Wood Products, Inc, makes sheets of plywood in a three-step process that involves the following departments 1) Forming. 2) Sizing, and 3) Finishing. In all three departments materials costs are added at the beginning of the process and conversion costs are added evenly throughout the process. The following information applies to the Forming Department at the beginning of May Number of sheets of plywood carried over as incomplete from the prior month: Percent of completion of beginning WIP inventory with respect to conversion costs: The cost of direct materials costs in beginning Work in Process The cost of conversion beginning Work in Process S7 325 The following information relates to the transactions that occurred in the Forming Department during May: Additional direct materials costs incurred in May $157,140 Additional direct labor costs incurred in May - $77,194 Additional factory overhead costs applied in May - $18,042 The following information applies to the Forming Department at the end of May. Sheets of plywood completed and transferred out during May Number of sheets of plywood in progress on May 31st: Percent of completion of ending WIP inventory with respect to conversion costs: Required: 1. Complete the attached Process Cost Summary 2. Prepare and post the following journal entries (including explanations): May 31 Record the costs transferred into the Forming Department during May May 31 Record the costs transferred out of the Forming Department during May. General Journal Date Description Debit 33,200 800 75% 5/1 Work in Process - Forming 16,465 .nswer the following questions: A. What will be beginning balance of the cost of the plywood in progress recorded in the WIP-Forming Department ledger account on June 1? 8. In the following month, what is the percentage of work that will still need to be done to complete May's unfinished plywood sheets with respect to: materials percentage? conversion percentage? C. What is the total cost per unit for the plywood that was completed during May in the Forming Department? Process Cost Summary - For the Month Ended Total Costs charged to production: Costs of beginning work in process inventory Direct Materials Costs Conversion Costs Costs incurred this period Direct Materials Costs Conversion Costs Total costs to account for Whole Units Whole Units Unit Information: Units to account for: Unts in beginning work in process Units started this period Total units to account for Units accounted for Transferred Out Ending Work in Process Total units to account for Direct Materials Conversion Equivalent Units of Production Equivalent units to complete beginning Work in Process Direct Materials units Conversion units Equivalent units started and completed Equivalent units in ending Work in Process Direct Materials units Conversion units Total Equivalent units of production Dost per equivalent unit of production Costs incurred this period (a) $ Equivalent units of production (b) + Cost per equivalent unit (a) (b) Step 3 ost assignment and reconciliation (costs of units completed and transferred out): Costs of beginning work in process inventory Cost to complete beginning work in process Direct Materials Costs (EUX Cost per E.U.) Conversion Costs (EU X Cost per E.U.) Cost of units started and completed this period Direct Materials Costs (EUX Cost per E.U.) Conversion Costs (EUX Cost per E.U.) Total costs of units finished this period Cost of ending work in process Direct Materials Costs (EUX Cost per E.U.) Conversion Costs (EUX Cost per EU.) Total costs of ending work in process Total costs accounted for

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