just answer question 6.32 using the excel sheet I gave you , when writing the answer please copy the excel sheet vocabulary and fill in the grey blanks on the sheet to make it as clear as possible , thankyou
AA Problem 6.31 Weighted Average Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment, ABC Objective 35 Swasey Fabrication, Inc., manufactures frames for bicycles. Each frame passes through three processes: Cutting, Welding, and Painting. In September, the Cutting Department of the Tulsa, Oklahoma, plant reported the following data: a. In Cutting, all direct materials are added at the beginning of the process. b. Beginning work in process consisted of 40,500 units, 20 percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials, $1,215,000; direct labor, $222,600; and applied overhead, S150,000. c. Costs added to production during the month were direct materials, $2,565,000; direct labor, $3,471,150. Overhead was assigned using the following information: Activity Rate Actual Driver Usage Inspection $150 per inspection hour 4,000 inspection hours Maintenance $750 per maintenance hour 1,600 maintenance hours Receiving $300 per receiving order 2,000 receiving orders d. At the end of the month, 121,500 units were transferred out to Welding, leaving 13,500 units in ending work in process, or 25 percent complete. 1. Prepare a physical flow schedule. Answer Check Figures: Total units accounted for = 135,000 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost under weighted average. Answer + Check Figures: Conversion cost = $5,871,150 4. Calculate the cost of goods transferred to Welding at the end of the month. Calculate the cost of ending inventory 5. Prepare the journal entry that transfers the goods from Cutting to Welding. Problem 6.32 FIFO Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment Objective 3 4 Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. Answer Check Figures: Total unit cost = $77.420 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory 1. Units Enter the appropriate amounts in the shaded cells in column K. Physical Flow Schedule Units to account for: Units, beginning work in process Units started Units to account for Units accounted for Units completed and transferred out Units, ending work in process Total units accounted for Enter the appropriate amounts in the shaded cells in columns E, G, I, K, and M. Materials Conversion 0% 2. Equivalent Units - FIFO Method Units started and completed Units, beginning work in process: Materials Conversion Units, ending work in process: Materials Conversion Equivalent units of output Costs to Account For and Cost per Unit Unit cost: Costs added Divided by: Equivalent units of output 3. Materials Conversion Total Cost per unit 4. Costs Accounted For: Costs transferred out: Beginning WP To complete beginning WP Started and completed Total Costs in ending work in process: Material Conversion Reconciliation: Costs to account for: Beginning WIP Current Total Costs accounted for: Transferred out Ending WIP Total 1 2 3
