Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Manama Company mature Tach car seat passes through the ably department and the testing department. This problem foes on the costing system at Manama Company

Manama Company mature Tach car seat passes through the ably department and the testing department. This problem foes on the costing system at Manama Company has a single direct-cost category (direct materials) and a single indirect cost category foonversion cost). Direct process Convenion costs are added evenly during the process. When the assembly department finishes work on each car seat, it is immediately transfe Manama Company uses the weighted-average method of process costing Data for the bly department for October 2001 alw Physical (Car Seats) Units Direct Materials Conversies Cast Work in process, October 1 3,000 $1,250,000 $402,750 Started during October 2021 20,000 Completed during October 2021 22,500 Work in process, October 31 2,500 Total costs added during October $4,500,000 $2,337,500 2021 "Degree of completion: direct materials 100%; conversion costs, 60%. "Degree of completion: direct materials,100%; conversion costs, 70% bly depen de of the Required: 1. Prepare a production cost worksheet with supporting schedules (le. showing all the five steps) using the Weighted average of process costing. 2. Prepare the journal entries for all October 2021 transactions affecting Work in Process-Assembly. Manama Company manufactures car seats. Each car seat passes through the assembly department and the testing department. This problem fo costing system at Manama Company has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). process. Conversion costs are added evenly during the process. When the assembly department finishes work on each car seat, it is immediately t Manama Company uses the weighted-average method of process costing. Data for the assembly department for October 2021 are as follows: Conversion Costs Physical (Car Seats) Units Direct Materials Work in process, October 1" 5,000 $1,250,000 Started during October 2021 20,000 Completed during October 2021 22,500 Work in process, October 31b 2,500 Total costs added during October $4,500,000 2021 "Degree of completion: direct materials 100% conversion costs, 60%. "Degree of completion: direct materials, 100%; conversion costs, 70%. equired: $402,750 $2,337,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Working Papers

Authors: John G. Helmkamp

2nd Edition

0471514292, 978-0471514299

More Books

Students also viewed these Accounting questions

Question

State the uses of job description.

Answered: 1 week ago

Question

Explain in detail the different methods of performance appraisal .

Answered: 1 week ago