Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

P18A-44B (similar to) Chromatic manufactures crayons in a three-stop process: mixing molding, and packaging (Click the icon to view the additional information.) Question Help

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

P18A-44B (similar to) Chromatic manufactures crayons in a three-stop process: mixing molding, and packaging (Click the icon to view the additional information.) Question Help At March 31, before recording the transfer of costs from the Mixing Department to the Molding Department the Chromatic general ledger included the following account (Click the icon to view the account.) Data Table More Info Work-in-Process Inventory-Mixing UNITS Units Balance, Mar. 1/ 29,400 Direct materials 16,000 Direct labor 30,150 Total Manufacturing overhead 21.850 Units Transferred to Molding Department Print Done Choose from any list or enter any number in the input fields and then click Check Answer The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is pumped so the Molding Department, where it is poured into molds After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed in the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred evenly throughout the process Work in process of the Mixing Department on March 1, 2018, consisted of 400 batches of crayons that were 50% of the way through the production process. The beginning balance in Work-in-Process Inventory Maing was $29.400, which consisted of $11,000 in direct materials costs and $18,400 in conversion costs During March, 3.200 batches were started in production, The Mixing Department transferred 2.000 batches to the Moiding Department in March, and 1,000 were stil in process on March 31. This ending invertory was 60% of the way through the moxing process. Chromatic uses FFO process costing Print Done 4 parts remaining Clear Al Check Answer

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_2

Step: 3

blur-text-image_3

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

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

3rd edition

77826485, 978-0077722074, 77722078, 978-0077826482

More Books

Students also viewed these Accounting questions

Question

What is the purpose of business modeling?

Answered: 1 week ago

Question

-4 1 9. Let A = Find A-1, (A") and verify that (A")= (A-1)".

Answered: 1 week ago

Question

Identify the major features of a just-in-time production system

Answered: 1 week ago

Question

Describe three different versions of backflush costing. EXERCISES

Answered: 1 week ago