Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oswego Clay Pipe Company provides services of $49,000 to Southeast Water District 845 on April 12 of the current year with terms 115, 1/60. What

image text in transcribed
image text in transcribed
Oswego Clay Pipe Company provides services of $49,000 to Southeast Water District 845 on April 12 of the current year with terms 115, 1/60. What would Oswego record on April 127 48,510 Accounts Recolvable Sales Revenue 48,510 49,000 O Accounts Receivable Sales Revenue 49,000 49,000 Accounts Receivable Sales Revenue Sales Discounts 48,510 490 49000 O Accounts Receivable Sales Discounts Sales Revenue 49.490 Old Country Links, Inc., produces sausages in three production departments--Mixing, Casing and Curing, and Packaging. In the Mixing Department, meats are prepared and ground and then mixed with spices. The spiced meat mixture is then transferred to the Casing and Curing Department, where the mixture is force-fed into casings and then hung and cured in climate-controlled smoking chambers, In the Packaging Department, the cured sausages are sorted, packed, and labeled. The company uses the weighted-average method In Its process costing system. Data for September for the Casing and Curing Department follow: Work in process inventory, September 1 Work in procean inventory, September 30 Unita 11 11 Percent Completed Mixing Material Conversion 1000 605 500 1008 204 100 Work in process inventory, September 1 Cost added during September Mixing $ 20,471 $ 125,729 Materiale conversion S 363 52, 170 $ 10,915 $ 87,191 Mixing cost represents the costs of the spiced meat mixture transferred in from the Mixing Department. The spiced meat mixture is processed in the Casing and Curing Department in batches; each unit in the above table is a batch and one batch of spiced meat mixture produces a set amount of sausages that are passed on to the packaging Department. During September, 74 batches (.e. units) were completed and transferred to the Packaging Department Required: 1. Determine the Casing and Curing Department's equivalent units of production for mixing, materials, and conversion for the month of September 2. Compute the Casing and Curing Department's cost per equivalent unit for mixing, materials, and conversion for the month of September 3. Compute the Casing and Curing Department's cost of ending work in process inventory for mixing, materials, conversion, and in total for September 4. Compute the Casing and Curing Department's cost of units transferred out to the Packaging Department for mixing, materials, conversion, and in total for September 5. Prepare a cost reconciliation report for the Casing and Curing Department for September Complete this question by entering your answers in the tabs below

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

Corporate Financial Reporting And Analysis

Authors: David Young, Jacob Cohen

3rd Edition

1118470559, 9781118470558

More Books

Students also viewed these Accounting questions

Question

Explain the triple constraint. Why is it so important?

Answered: 1 week ago