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III. Gulf Coast Co. began operations in March producing orange juice. Finished orange juice must go through two departments: Juicing Department then the Bottling Department.
III. Gulf Coast Co. began operations in March producing orange juice. Finished orange juice must go through two departments: Juicing Department then the Bottling Department. There were no beginning inventories in the month of March. During March, the juicing department began 8,000 gallons of orange juice. March direct materials costs in the Juicing Department totaled $10,500 and conversion costs totaled $5,500. Ending inventory of the Juicing Department on March 31st consisted of 1,000 gallons that was 100% complete as to materials and 60% complete as to conversion costs. a) Prepare a schedule showing 1) no. of gallons transferred from Juicing Department to the Bottling Department in March 2) gallons started and completed by the Juicing Department b) Compute the equivalent units of input resources for the Juicing Department in March c) Compute the cost per equivalent unit of input resource for Juicing Department d) Compute the total cost assigned to the Juicing Department's ending inventory in March
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