Managerial Accounting chpt.4

Prepare a Production Cost Report for Jane Company's assemly Department for August 2019. A blank Production Cost Report is provided below. Assume that all materials are added at the beginning of the assembly process. Use the following cost and production data:

the following cost and production data: Production Date - Assembly Department 9 10 11 Work in Process Units as of 8/1 Units started into production Work in Process Unit as of 8/31 Complete 1,700 60% complete as to conversion cost 5,800 1.100 40% complete as to conversion cost 13 14 S Cost Dls Assembly Department Beginning Work in Process Cost of 8/11 Materials Labor Manufacturing Overhead Total cost of Beginning WIP 16 6,500.00 8.400.00 7.070.00 21,970.00 $ Costs Added During the Month of August Materials Labor Manufacturing Overhead Total Cost Added During the Month E $ 331,000.00 60,000.00 22,000.00 413,000.00 23 24 S Production Cost Report Physical Unit How 30 31 32 34 35 36 37 Where Unit come from Bensing WIP Inventory Started into Production Total Units Where Units Go: Completed/Transferred Out Ending WIP Inventory Total Units Direct Materials Conversion Units Completed & Transferred Out Units of Ending Work in Process End WP units complete DM End WIP units complete Conversion Total Equivalen Units Costs Per Iquivalent Unit Conversion Where Cash Come From: Costs of beginning WP inventory Current costs added to production Total costs to be accounted for Equivalent units ) Cost per tu round decimals) 54 55 58 Costs of Goods Manufactured/Transfered & Ending WP Inventory Where Costs Get Convention Cost of Goods Mandal as Units transferred out Cost per e nt unit of production Cost of its completed transferred out Control Indi WIP want Equivalent units of ending WP Cost per equivalent unit Cost of ending work in process inventory Costs to be Allocated: Cost of beginning WIP inventory Current costs added to production Total costs to be counted for Couts located to Cost of gods manufactured transfer Cont of ending WP inventory Total cost accounted for ) 5 the following cost and production data: Production Date Assembly Department 7 X Complete 1,700 60% complete as to conversion cost 5,800 1,100 40N complete as to conversion cost Work in Process Units of 8/1 Units started into production Work in Process Units as of R/01 10 11 13 14 15 16 Cost Dub Assembly Department Beginning Work in Process Contas of 1/1 Mais Laber Manufacturing Overhead Total cost of Beginnine WIP 6,500.00 8,400.00 7,070.00 $ 21,970.00 Costs Added During the Month of August M als $ 331,000.00 Labor 60,000.00 Manufacturing Overhead 22,000.00 Total Cost Added During the Month $ 413,000.00 Production Cost Report Physical Unit How Wrencome From: Blning WIP Inventory Started into Production Total Units WhenGA Completed/Transferred Out Ending WP Inventory Total Units 30 36 37 Equivalent Units (U) Direct Materials Conversion 42 Units Completed & Transferred Out Units of Ending Work in Process End WIP units X complete DM End WIP units complete Conversion Total Equivalent Units (EU) Costs Per Equivalent Unit Direct Conversion Where Costs Come From Materials Costs Costs of beginning WIP Inventory Current costs added to production Total costs to be accounted for Equivalent units (EU) Cost per EU (round 2 decimals Total Costs of Goods Manufactured/Transferred & Ending WIP Inventory Where Cost Go: Direct Convenion Contrada Mochilas Mes Conta Units transferred out 1 Cost per equivalent unit of production Cost of units completed mid transferred out Castellder WIP Inventory Equivalent units of ending WP Cost per equivalent unit Cost of ending work in process inventory Costs to be Allocated Cost of beginning WIP inventory Current costs added to production Total costs to be accounted for Costs Allocated to: Cost of goods manufactured transferred) Cost of ending WIP Inventory Total costs accounted for 75 77 11 Calibri (Rody A A V UA TE D BIU A Merge & Cente Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. O x fx B Problem 2, Process Costing, worth 20 points: Prepare a Production Cost Report for Jane Company's Assembly Department for August 2019. A blank Production Cost Report is provided below. Assume that all materials are added at the beginning of the assembly process. Use the following cost and production data: Production Data - Assembly Department Units % Complete 1,700 60% complete as to conversion cost Work in Process Units as of 8/1 Units started into production Work in Process Units as of 8/31 5,800 1,100 40% complete as to conversion cost Cost Data - Assembly Department Beginning Work in Process Cost as of 8/1 Materials Labor Manufacturing Overhead Total Cost of Beginning WIP 6,500.00 8,400.00 7,070.00 21,970.00 $ Costs Added During the Month of August Materials Labor Manufacturing Overhead Total Cost Added During the Month 331,000.00 60,000.00 22,000.00 413,000.00 $ Production Cost Report Physical Unit Flow Where Units Come From: Beginning WIP Inventory Started into Production Total Units Where Units Go: Completed/Transferred Out Ending WIP Inventory Total Units Equivalent Units (EU) Direct Materials Conversion Ch 4 Process Cost Summary Ch 5 ABC + Ch 3 Job Cost Ready Callbl (bouy BIU Merg Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for U P40 x fe comprar Ending WIP Inventory Total Units Equivalent Units (EU) Direct Materials Conversion Units Units Units Completed & Transferred Out Units of Ending Work In Process End WIP unitsx_ % complete DM End WIP unitsx__%complete Conversion Total Equivalent Units (EU) Costs Per Equivalent Unit Direct Conversion Where Costs Come From: Materials Costs Costs of beginning WIP inventory Current costs added to production Total costs to be accounted for Equivalent units (EU) Cost per EU (round 2 decimals") Costs of Goods Manufactured/Transferred & Ending WIP Inventory Where Costs Go: Direct C onversion Cost of Goods Manufactured Transferred) Materials Costs Units transferred out Cost per equivalent unit of production Cost of units completed and transferred out Total Cost of Ending WIP Inventory Equivalent units of ending WIP Cost per equivalent unit Cost of ending work in process inventory Cost Reconciliation 74 Costs to be Allocated: Cost of beginning WIP inventory Current costs added to production Total costs to be accounted for Costs Allocated to: Cost of goods manufactured (transferred) Cost of ending WIP inventory Total costs accounted for Ch 3 Job Cost Ch 4 Process Cost Summary Ch 5 ABC +