1. Loanstar had 100 units in beginning inventory before starting 1,000 units and completing 900 units. The beginning work in process inventory consisted of $3,000 in materials and $5,000 in conversion costs before $8,000 of materials and $12,640 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs.
2. Use the above information to complete a production cost report. Enter all amount as positive values.
3. Production Cost ReportWork in process completion percent100%40%Material UnitsConversion UnitsTotal UnitsCompleted and transferred outfill in the blank c8655af87fd7072_1
4. fill in the blank c8655af87fd7072_2
5. fill in the blank c8655af87fd7072_3
6. Ending work in processfill in the blank c8655af87fd7072_4
7. fill in the blank c8655af87fd7072_5
8. fill in the blank c8655af87fd7072_6
9. Total units to account forfill in the blank c8655af87fd7072_7
10. fill in the blank c8655af87fd7072_8
11. fill in the blank c8655af87fd7072_9
12. Costs to account forMaterialsConversionTotalBeginning work in process$fill in the blank c8655af87fd7072_10
13. $fill in the blank c8655af87fd7072_11
14. $fill in the blank c8655af87fd7072_12
15. Incurred during the periodfill in the blank c8655af87fd7072_13
16. fill in the blank c8655af87fd7072_14
17. fill in the blank c8655af87fd7072_15
18. Total costs to account for$fill in the blank c8655af87fd7072_16
19. $fill in the blank c8655af87fd7072_17
20. $fill in the blank c8655af87fd7072_18
21. Equivalent unitsfill in the blank c8655af87fd7072_19
22. fill in the blank c8655af87fd7072_20
23. fill in the blank c8655af87fd7072_21
24. Cost per equivalent unit for department$fill in the blank c8655af87fd7072_22
25. $fill in the blank c8655af87fd7072_23
26. $fill in the blank c8655af87fd7072_24
28. Transferred-out costs$fill in the blank c8655af87fd7072_25
29. End work in process: materials$fill in the blank c8655af87fd7072_26
30. End work in process: conversionfill in the blank c8655af87fd7072_27
31. End work in process: totalfill in the blank c8655af87fd7072_28
32. Total costs accounted for$fill in the blank c8655af87fd7072_29
33. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department. If an amount box does not require an entry, leave it blank.
35. fill in the blank bb5306fc9f9907b_2
36. fill in the blank bb5306fc9f9907b_3
38. fill in the blank bb5306fc9f9907b_5
39. fill in the blank bb5306fc9f9907b_6